Smithfield Q3 Profit Falls 64% to $89M; Discloses $441M Nathan's Deal and DOJ Antitrust Demands
SFD is trading near its 52-week low of $18.09 (0.3% below the low).
Summary
Smithfield's third-quarter net income fell 64% to $89 million as Fresh Pork posted a $89 million operating loss. The 10-Q also discloses the $441 million Nathan's Famous acquisition, the VisionAg hog-production sale, and DOJ antitrust investigative demands.
Key Events · Earnings and Guidance · SFD
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Q3 Profit Falls 64%
Net income attributable to Smithfield was $89 million, or $0.23 per diluted share, versus $248 million, or $0.63, a year earlier; sales fell 8.3% to $3.44 billion.
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Fresh Pork Swings to Loss
Fresh Pork posted a $89 million operating loss against $10 million of profit a year ago, with segment sales down 17.0% on an 11.4% lower average price and 6.3% lower volume.
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Nathan's Famous Bought for $441M
On October 26, 2026 Smithfield acquired Nathan's Famous for $441 million including $18 million of transaction costs, assumed $47 million of debt (~$10 million net of cash) and funded it with cash on hand.
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DOJ Antitrust Demands Disclosed
Smithfield received civil investigative demands from the DOJ Antitrust Division in August 2026 over wage-fixing litigation, and agreed on September 28, 2026 to settle all putative class claims for $9 million, subject to court approval.
Analysis · SFD · Manufacturing
Third-quarter earnings power collapsed: operating profit fell 59.1% to $127 million and net income attributable to Smithfield dropped to $89 million ($0.23 per diluted share) from $248 million ($0.63), with Fresh Pork swinging to a $89 million operating loss as hog and pork prices fell. The 10-Q also puts hard numbers on things the market had not seen: the $441 million cash purchase of Nathan's Famous closed October 26, 2026, the VisionAg deal sheds roughly 900,000 hogs of annual production, and Smithfield disclosed August 2026 civil investigative demands from the DOJ Antitrust Division plus a $9 million wage-fixing class settlement. Liquidity is not the issue — $1,178 million of cash plus $2,303 million of revolver availability, and a $600 million term loan arranged October 14, 2026 to retire the February 2027 notes — but earnings are deteriorating into the seasonally strong fourth quarter.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SFD was trading at $18.03 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $18.09 to $29.81. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.