Smithfield Foods now expects a third-quarter Fresh Pork adjusted operating loss of $70 million to $90 million, while total company adjusted Operating Income is projected at $115 million to $175 million. For investors, Packaged Meats remains within its fiscal 2026 outlook of $1,075 million to $1,150 million.

Key Highlights

  • Packaged Meats fiscal 2026 adjusted operating income remains projected at $1,075 million to $1,150 million.
  • Hog Production adjusted operating profit is expected between $25 million and $45 million.
  • Total company third-quarter adjusted operating income is expected between $115 million and $175 million.

Smithfield Foods Inc. (NASDAQ: SFD) now expects a third-quarter Fresh Pork adjusted operating loss between $70 million and $90 million, reflecting further pressure on the industry market spread. Total company adjusted operating income is projected at $115 million to $175 million.

Fresh Pork Outlook Drives Revised Range

The Fresh Pork forecast reflects a further decline in the USDA pork cutout since the prior outlook, which compressed the near-term industry market spread. Hog Production is expected to generate adjusted operating profit of $25 million to $45 million as lower hog prices weigh on segment profitability. Packaged Meats remains projected to deliver fiscal 2026 adjusted operating income between $1,075 million and $1,150 million, unchanged from the previous range. Smithfield said that outlook reflects branded Volume share gains, wider distribution and disciplined execution while consumers remain cautious. The measures are adjusted operating figures, which Smithfield identifies as non-GAAP and distinct from GAAP operating profit.

Full-Year Guidance Update Follows Third-Quarter Results

The company said Packaged Meats is performing in line with expectations, while the outlook change is concentrated in Fresh Pork and Hog Production.