Latest news with #packagedmeats
Reuters
12-08-2025
- Business
- Reuters
Smithfield Foods raises annual profit forecast on strong meat demand
Aug 12 (Reuters) - Smithfield Foods (SFD.O), opens new tab raised its annual operating profit forecast and posted a rise in quarterly sales and earnings on Tuesday, helped by resilient demand for packaged meats, including bacon, and fresh pork products. Consumers grappling with rising costs of living and tariff volatilities have increasingly opted to cook meals at home over dining out, aiding the business of meat packers such as Smithfield and Tyson Foods (TSN.N), opens new tab. The Virginia-based company sells its pork, ham and sausages under brands, including Smithfield, priced between $5 and $17 at Walmart. It also sells products under brands Eckrich and Nathan's Famous. Sales in the packaged meat segment, a major revenue generator for the company, rose 6.9% during the second quarter, while fresh pork business sales increased 5%. Smithfield Foods, an indirect, majority-owned subsidiary of Hong Kong-based WH Group ( opens new tab, also benefited from its cost-savings efforts, including workforce reduction and trimming down the number of hogs it owns and shifting to buying more hogs from other producers. The U.S. pork processor expects 2025 adjusted operating profit to be between $1.15 billion and $1.35 billion, compared with its prior range of $1.10 billion to $1.30 billion. Smithfield Foods, which went public in January, sells a sizeable portion of packaged meat as private-label products to retail and foodservice customers in the U.S., which has helped it gain more market share. Its sales rose 11% to $3.79 billion during the quarter ended June 29. It posted adjusted profit of 55 cents per share, compared with 51 cents a year ago.
Yahoo
12-08-2025
- Business
- Yahoo
Smithfield Foods raises annual profit forecast on strong meat demand
(Reuters) -Smithfield Foods raised its annual operating profit forecast and posted a rise in quarterly sales and earnings on Tuesday, helped by resilient demand for packaged meats, including bacon, and fresh pork products. Consumers grappling with rising costs of living and tariff volatilities have increasingly opted to cook meals at home over dining out, aiding the business of meat packers such as Smithfield and Tyson Foods. The Virginia-based company sells its pork, ham and sausages under brands, including Smithfield, priced between $5 and $17 at Walmart. It also sells products under brands Eckrich and Nathan's Famous. Sales in the packaged meat segment, a major revenue generator for the company, rose 6.9% during the second quarter, while fresh pork business sales increased 5%. Smithfield Foods, an indirect, majority-owned subsidiary of Hong Kong-based WH Group, also benefited from its cost-savings efforts, including workforce reduction and trimming down the number of hogs it owns and shifting to buying more hogs from other producers. The U.S. pork processor expects 2025 adjusted operating profit to be between $1.15 billion and $1.35 billion, compared with its prior range of $1.10 billion to $1.30 billion. Smithfield Foods, which went public in January, sells a sizeable portion of packaged meat as private-label products to retail and foodservice customers in the U.S., which has helped it gain more market share. Its sales rose 11% to $3.79 billion during the quarter ended June 29. It posted adjusted profit of 55 cents per share, compared with 51 cents a year ago. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
12-08-2025
- Business
- Associated Press
Smithfield Foods' Strategy Execution and Agile Business Model Drive Strong Second Quarter Results
SMITHFIELD, Va., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (Nasdaq: SFD), an American food company and an industry leader in value-added packaged meats and fresh pork, today reported results for its fiscal 2025 second quarter ended June 29, 2025. Second Quarter Fiscal 2025 Financial Highlights First Six Months Fiscal 2025 Financial Highlights CEO Perspective 'Our strong second quarter results demonstrate the agility and resilience of our business as we navigate a dynamic macroeconomic environment. Through our iconic and diversified brand portfolio, our Packaged Meats segment is delivering on consumers' needs for quality protein at a great value. Our Fresh Pork segment is adeptly navigating a dynamic tariff environment, and our Hog Production segment continues to grow profitability,' said Smithfield President and CEO Shane Smith. 'With a solid first half company performance and improved outlook for the Hog Production segment, we have raised our full-year adjusted operating profit outlook,' added Smith. 'Our strong financial position continues to enable us to invest in our growth strategies and generate value for shareholders over the long term.' Review of Financial Results Results of Operations Sales Operating Profit Financial Position As of June 29, 2025, we had $3,225 million of available liquidity consisting of $928 million in cash and cash equivalents and $2,297 million of availability under our committed credit facilities. We ended the second quarter with a ratio of net debt to adjusted EBITDA from continuing operations (1) on a trailing twelve months basis of 0.7x. ________________ (1) A non-GAAP measure. Please see the table in the Non-GAAP Financial Measures section for a reconciliation of the ratio of net debt to adjusted EBITDA from continuing operations to the most comparable GAAP measure. Dividend Update On April 22, 2025 and May 29, 2025, we paid dividends of $0.25 per share to shareholders. On July 31, 2025, we announced a dividend of $0.25 per share to be paid to shareholders on August 28, 2025. We anticipate the remaining quarterly dividend for fiscal 2025 will be $0.25 per share, resulting in an annual dividend rate in fiscal 2025 of $1.00 per share. The declaration of dividends is subject to the discretion of our Board and depends on various factors, including our net income, financial condition, cash requirements, business prospects, and other factors that our Board deems relevant to its analysis and decision making. FY 2025 Outlook For Fiscal Year 2025, the Company is increasing its outlook originally provided on March 25, 2025 as follows: Conference Call Information A conference call to discuss the second quarter 2025 financial results is scheduled for today, August 12, 2025, at 9:00 a.m. Eastern Time. A live audio webcast of the conference call, together with related materials, will be available online at or by dialing 844-539-3338 (international callers please dial 412-652-1269). A recorded replay of the conference call is expected to be available approximately three hours after the conclusion of the call and can be accessed both online at and by dialing 877-344-7529 (international callers please dial 412-317-0088). The pin number to access the telephone replay is 9318100. The replay will be available until August 19, 2025. About Smithfield Foods Smithfield Foods, Inc. (Nasdaq: SFD) is an American food company with a leading position in packaged meats and fresh pork products. With a diverse brand portfolio and strong relationships with U.S. farmers and customers, we responsibly meet demand for quality protein around the world. Non-GAAP Financial Measures This press release includes certain financial information that is not presented in accordance with generally accepted accounting principles in the United States ('GAAP'), including (1) adjusted net income from continuing operations attributable to Smithfield, (2) adjusted net income from continuing operations per common share attributable to Smithfield, (3) EBITDA from continuing operations, (4) adjusted EBITDA from continuing operations, (5) adjusted EBITDA margin from continuing operations, (6) adjusted operating profit, (7) adjusted operating profit margin, (8) net debt and (9) ratio of net debt to adjusted EBITDA from continuing operations. We refer to these measures as 'non-GAAP' financial measures. (1) Adjusted net income from continuing operations attributable to Smithfield is defined as net income (loss), excluding the effects of legal settlements (both gain and loss) and loss contingencies, transactions or events that are not part of our core business activities or are unusual in nature (whether gains or losses) and the tax effects of the foregoing items. We believe that adjusted net income from continuing operations attributable to Smithfield is a useful measure because it excludes the effects of discontinued operations, non-operating gains and losses and other items that are unusual in nature, infrequent in occurrence or otherwise stem from strategic decisions to restructure our operations. (2) Adjusted net income from continuing operations per common share attributable to Smithfield is defined as adjusted net income from continuing operations attributable to Smithfield divided by total outstanding common shares. (3) EBITDA from continuing operations is defined as earnings before interest, taxes, depreciation and amortization. We believe that EBITDA is a useful measure because it excludes the effects of financing and investing activities by eliminating interest and depreciation costs to provide a comparable year-over-year analysis. (4) Adjusted EBITDA from continuing operations is defined as EBITDA further adjusted for legal settlements (both gain and loss) and loss contingencies and transactions or events that are not part of our core business activities or are unusual in nature (whether gains or losses). We believe that adjusted EBITDA from continuing operations is a useful measure because it excludes the effects of discontinued operations, non-operating gains and losses and other items that are unusual in nature, infrequent in occurrence or otherwise stem from strategic decisions to restructure our operations. (5) Adjusted EBITDA margin from continuing operations is defined as adjusted EBITDA from continuing operations divided by total sales. We believe that adjusted EBITDA margin from continuing operations is a useful measure because it evaluates overall operating performance, ability to pursue and service possible debt opportunities and possible future investment opportunities. (6) Adjusted operating profit is defined as operating profit, excluding items that are unusual in nature, infrequent in occurrence or otherwise stem from strategic decisions to restructure our operations. (7) Adjusted operating profit margin is adjusted operating profit expressed as a percentage of revenues. We believe that adjusted net income from continuing operations attributable to Smithfield, adjusted net income from continuing operations per common share attributable to Smithfield, adjusted operating profit and adjusted operating profit margin provide a better understanding of underlying operating results and trends of established, ongoing operations of our business. (8) Net debt is defined as long-term debt and finance lease obligations, including the current portion, minus cash and cash equivalents. We believe that net debt is a useful measure because it helps to give investors a clear understanding of our financial position and is also used to calculate certain leverage ratios. (9) Ratio of net debt to adjusted EBITDA from continuing operations is defined as net debt divided by adjusted EBITDA from continuing operations. We believe that ratio of net debt to adjusted EBITDA from continuing operations is a useful measure because it monitors the sustainability of our debt levels and our ability to take on additional debt against adjusted EBITDA from continuing operations, which is used as an operating performance measure. Although these non-GAAP measures are frequently used by investors and securities analysts in their evaluations of companies in industries similar to ours, these non-GAAP measures have limitations as analytical tools, are not measurements of our performance under GAAP and should not be considered as alternatives to operating profit, net income or any other performance measures derived in accordance with GAAP and should not be used by investors or other users of our financial statements in isolation for formulating decisions, as such non-GAAP measures exclude a number of important cash and non-cash charges. You should be aware that our presentation of these and other non-GAAP financial measures in this press release may not be comparable to similarly titled measures used by other companies. A reconciliation of each of these non-GAAP measures to its most directly comparable financial measure calculated in accordance with GAAP is provided in this release. The Company's outlook for fiscal year 2025 includes adjusted operating profit and adjusted segment operating profit. The Company is not able to reconcile its fiscal year 2025 projected adjusted results to its fiscal year 2025 projected GAAP results because certain information necessary to calculate such measures on a GAAP basis is unavailable or dependent on the timing of future events outside of our control. Therefore, because of the uncertainty and variability of the nature of and the amount of any potential applicable future adjustments, which could be significant, the Company is unable to provide a reconciliation for these forward-looking non-GAAP measures without unreasonable effort. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, and expected market growth, are forward- looking statements. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'shall,' 'should,' 'expects,' 'plans,' 'anticipates,' 'intends,' 'projects,' 'contemplates,' 'believes,' or 'estimates' or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Specific forward-looking statements in this press release include our ability to invest in growth and increase value for our shareholders; our financial outlook for 2025; and the anticipated payment of annual dividends of $1.00 per share in 2025. We have based the forward-looking statements contained in this press release primarily on our current expectations, estimates, forecasts and projections about future events and trends that we believe may affect our business, results of operations, financial condition and prospects. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, the results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. We undertake no duty to update any statement made in this press release in light of new information or future events. The forward-looking statements contained in this press release are subject to substantial risks and uncertainties that could affect our current expectations and our actual results, including, among others: (i) the cyclical nature of our operations and fluctuations in commodity prices; (ii) our dependence on third- party suppliers; (iii) our ability to execute on our strategy to optimize the size of our hog production operations; (iv) our ability to navigate geopolitical risks including increased tariffs on our exports, (v) our ability to mitigate higher input costs through productivity improvements in our operations, procurement strategies and the use of derivative instruments; (vi) our ability to compete successfully in the food industry; (vii) our ability to anticipate and meet consumer trends and interests through product innovation; (viii) compliance with laws and regulations, including environmental, cybersecurity and tax laws and regulations in the United States and Mexico; (ix) our ability to defend litigation brought against us and the sufficiency of our accruals for related contingent losses; (x) our ability to prevent cyberattacks, security breaches or other disruptions of our information technology systems; (xi) future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements; (xii) our dividend policy and our ability to pay dividends; and (xiii) our status as a 'controlled company' and any resulting potential conflicts of interest. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our reports on Form 10-K and Form 10-Q, particularly under the heading 'Risk Factors.' Copies of these filings are available online from the SEC or by contacting Smithfield's Investor Relations Department at [email protected] or by clicking on SEC Filings on the Smithfield Investor Relations website at Investor Contact: Julie MacMedan Email: [email protected] Media Contact: Ray Atkinson Email: [email protected] Cell: 757.576.1383 (Financial Tables Follow) Non-GAAP Financial Measures Adjusted Net Income from Continuing Operations Attributable to Smithfield and Adjusted Net Income from Continuing Operations per Common Share Attributable to Smithfield The following table provides a reconciliation of net income from continuing operations attributable to Smithfield to adjusted net income from continuing operations attributable to Smithfield. ________________ (1) Consists of severance costs associated with a workforce reduction initiative. Total severance costs round up to $9 million. (2) Consists of severance costs associated with the planned closure of our satellite offices in Lisle, Illinois and Kansas City, Missouri. (3) Consists of contract termination costs, employee termination benefits and accelerated depreciation charges associated with our Hog Production Reform initiative. (4) Represents the recognition of employee retention tax credits received under the Coronavirus Aid, Relief, and Economic Security ('CARES') Act. (5) Consists of gains recognized in connection with settlements of insurance claims, including: (1) a gain recognized in the second quarter of 2025 related to a claim against an insurance carrier for losses incurred in connection with past litigation and (2) a gain recognized in the first quarter of 2025 in connection with a 2021 fire at our Tar Heel, North Carolina rendering facility. (6) Represents the tax effects of the non-GAAP adjustments based on a statutory tax rate of 25.7%. EBITDA from Continuing Operations, Adjusted EBITDA from Continuing Operations and Adjusted EBITDA Margin from Continuing Operations The following table provides a reconciliation of net income from continuing operations to EBITDA from continuing operations and adjusted EBITDA from continuing operations. ________________ (1) Consists of severance costs associated with a workforce reduction initiative. Total severance costs round up to $9 million. (2) Consists of severance costs associated with the planned closure of our satellite offices in Lisle, Illinois and Kansas City, Missouri. (3) Excludes accelerated depreciation charges in the amount of $1 million recognized in the first six months of 2025 as such charges are included in the depreciation and amortization line in this table. (4) Consists of contract termination costs and employee termination benefits charges associated with our Hog Production Reform initiative. Excludes accelerated depreciation charges of $1 million and $2 million recognized in the first quarter of 2025 and the last six months of 2024, respectively, as such charges are included in the depreciation and amortization line in this table. (5) Includes a $32 million gain on the sale of our Utah hog farms and a $6 million gain on the sale of breeding stock to Murphy Family Farms in the fourth quarter of 2024. (6) Represents the recognition of employee retention tax credits received under the CARES Act. (7) Consists of gains recognized in connection with settlements of insurance claims, including: (1) a gain recognized in the second quarter of 2025 related to a claim against an insurance carrier for losses incurred in connection with past litigation and (2) a gain recognized in the first quarter of 2025 in connection with a 2021 fire at our Tar Heel, North Carolina rendering facility. Net Debt and Ratio of Net Debt to Adjusted EBITDA from Continuing Operations The following table provides a reconciliation of total debt and finance lease obligations to net debt, the ratio of total debt and finance lease obligations to net income from continuing operations, and the ratio of net debt to adjusted EBITDA. Adjusted Operating Profit and Adjusted Operating Profit Margin The following table provides a reconciliation of operating profit to adjusted operating profit. Adjusted operating profit and adjusted operating profit margin are non-GAAP measures. _______________ (1) Includes our Mexico and Bioscience operations. (2) Represents general corporate expenses for management and administration of the business. (3) Includes certain costs of sales, SG&A and operating gains that we do not allocate to our segments. (4) Consists of severance costs associated with the planned closure of our satellite offices in Lisle, Illinois and Kansas City, Missouri. (5) Represents the recognition of employee retention tax credits received under the CARES Act. (6) Consists of a gain recognized in the second quarter of 2025 for the settlement of a claim with an insurance carrier to recover losses incurred in connection with past litigation. _______________ (1) Includes our Mexico and Bioscience operations. (2) Represents general corporate expenses for management and administration of the business. (3) Includes certain costs of sales, SG&A and operating gains that we do not allocate to our segments. (4) Consists of severance costs associated with a workforce reduction initiative. (5) Consists of severance costs associated with the planned closure of our satellite offices in Lisle, Illinois and Kansas City, Missouri. (6) Represents the recognition of employee retention tax credits received under the CARES Act. (7) Consists of gains recognized in connection with settlements of insurance claims, including: (1) a gain recognized in the second quarter of 2025 related to a claim against an insurance carrier for losses incurred in connection with past litigation and (2) a gain recognized in the first quarter of 2025 in connection with a 2021 fire at our Tar Heel, North Carolina rendering facility. (8) Consists of contract termination costs, employee termination benefits and accelerated depreciation charges associated with our Hog Production Reform initiative.
Yahoo
05-08-2025
- Entertainment
- Yahoo
Smithfield's 'We Speak Pork' Campaign Features Pork So Good It Speaks for Itself
Creative platform designed to drive awareness among Gen Z and Millennials, expand Smithfield's leadership in packaged meats segment Smithfield - We Speak Pork Smithfield - We Speak Pork Smithfield - We Speak Pork Smithfield - We Speak Pork SMITHFIELD, Va., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Smithfield® has launched a new national advertising campaign, 'We Speak Pork,' showcasing pork so good it speaks for itself. The video campaign features Emmy Award-winning writer, actor and comedian Ben Schwartz as the voice of Smithfield's portfolio of products, including bacon, Prime Fresh lunch meat, smoked hams and pre-marinated pork tenderloins. Schwartz's credits include NBC's 'Parks and Recreation,' 'House of Lies,' the 'Sonic the Hedgehog' movie series, 'The Afterparty,' and the 'Ben Schwartz and Friends Tour,' which sold out Radio City Music Hall and the Sydney Opera House. 'This new creative campaign is an extension of Smithfield Foods' continuing strategy to grow our leadership position in the value-added packaged meats segment,' said Steve France, president of packaged meats for Smithfield Foods. 'We Speak Pork puts our delicious Smithfield products front and center – in their own voice – to remind consumers of the unmatched flavor and quality of Smithfield's expertly crafted pork products. It's an entertaining way to appeal to new audiences and let them see the fun side of the Smithfield brand.' 'I am proud to finally answer the question that has tormented mankind for years: "If Smithfield pork could talk, what would it sound like?" The answer is me. And in a way, I feel like we always knew. I am excited to work with Smithfield and begin my pork product journey as the voice of their "We Speak Pork" campaign,' said Schwartz. Designed to drive awareness among Gen Zs and Millennials, the campaign provides a relevant and authentic voice for the Smithfield brand to drive curiosity and consideration. The creative platform grabs attention with bold product visuals to showcase the versatility and convenience of Smithfield's products, which allow consumers to explore bold flavors for everyday use. Smithfield holds the #1 market position in uncooked bacon and smoked ham in the U.S., and top-ten positions in uncooked breakfast sausage and packaged lunch meat nationwide. The new 'We Speak Pork' ads, directed by David Ma and created by The Escape Pod Chicago, are now on digital channels including streaming platforms, and are also available on the Smithfield brand's YouTube channel. To see the complete line of Smithfield products, recipes, inspiration tips and more, please visit The Smithfield brand leads Smithfield Foods' portfolio of iconic brands including Eckrich, Farmland and Nathan's Famous, among many others. Smithfield Foods' brands hold the #2 overall U.S. market position for branded packaged meats, with top-three share in 15 of the 25 packaged meats categories in which they compete. About SmithfieldSmithfield® isn't only a leading provider of high-quality pork products. We're also a leading provider of the most important part of any meal: premium, high-quality meat. And we take our meat duties seriously. After all, the rest of the meal is just a side dish. Smithfield products were first introduced in 1936 in Smithfield, Virginia, by people who lived for the love of meat. Today, the Smithfield brand stands for craftsmanship, authenticity and pure passion as we continue to give meat lovers across the country the deliciousness they crave: our classic bacon, slow-smoked holiday hams, hand-trimmed ribs, marinated fresh pork, smoked meats, and even more meaty magic. All Smithfield products not only meet our customers' high flavor standards but also meet the highest quality and safety standards in the industry. All while being produced right here in the USA. To learn more about the Smithfield portfolio of products, please visit and connect with us on Facebook, Instagram, YouTube and X (formally known as Twitter). Smithfield® is a brand of Smithfield Foods, Inc. About Ben SchwartzBen Schwartz is an Emmy Award-winning writer, actor and comedian. His credits include NBC's 'Parks and Recreation,' 'House of Lies,' the 'Sonic the Hedgehog' movie series, 'The Afterparty,' and the 'Ben Schwartz and Friends Tour,' which sold out Radio City Music Hall and the Sydney Opera House. Find out more about Ben at About Smithfield Foods Smithfield Foods (Nasdaq: SFD) is an American food company with a leading position in packaged meats and fresh pork products. With a diverse brand portfolio and strong relationships with U.S. farmers and customers, we responsibly meet demand for quality protein around the world. Contact:Ray AtkinsonSmithfield Foods, Inc.(757) 576-1383ratkinson@ Photos accompanying this announcement are available at: A video accompanying this announcement is available at
