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Smithfield Foods (SFD) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 27, 2026 · Smithfield Foods (SFD) Q3 2026 earnings results →

Q3 2026 Revenue down 8% year over year to $3.4B · 3¢ of every $1 of revenue kept as net profit · operating margin 3.7%

Smithfield Foods made $3.4B in Q3 2026 (-8% Y/Y): Packaged Meats $2.0B, Fresh Pork $1.1B, Hog Production $197M. Operating margin 3.7%, net earnings $89.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.

Revenue$3.4B
Year over year-8%
Operating margin3.7%
Net earnings$89.0M
Operating cash flow$161M

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Smithfield Foods Q3 2026 revenue breakdown: Sankey diagram of revenue (Packaged Meats, Fresh Pork, Hog Production, Other), costs, profit and cash flow
Smithfield Foods Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.4B in Q3 2026, down 8% year over year and down 7% from the previous quarter. Packaged Meats was the largest line at 58% of revenue. Fresh Pork lost $0.17B year over year (down 13%), 54% of the total change.

Gross margin was 9.1%, down 3.7 points from Q3 2025. Operating profit was $0.13B, a 3.7% margin (down 4.6 points year over year). Operating expenses grew 10% against a revenue fall of 8%. Net earnings were $0.09B, down 64% year over year. The effective tax rate was 24.8%.

Operating cash flow was $0.16B (up 1138% year over year), 177% of net income including minority interests. Non-cash charges added back $0.09B of depreciation and amortization. Working capital and other items used $0.02B. Capital expenditures of $0.12B left free cash flow of $0.04B.

Quarterly history

Smithfield Foods revenue by quarterSmithfield Foods revenue by quarter$3.8BQ1 2025$3.8BQ2 2025$3.7BQ3 2025$4.2BQ4 2025$3.8BQ1 2026$3.7BQ2 2026$3.4BQ3 2026
Smithfield Foods net earnings by quarterSmithfield Foods net earnings by quarter$224MQ1 2025$188MQ2 2025$248MQ3 2025$327MQ4 2025$249MQ1 2026$239MQ2 2026$89.0MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 27, 2026$3.4B-8%3.7%$89.0M$161M
Q2 202610-QAug 11, 2026$3.7B-2%7.8%$239M$269M
Q1 202610-QApr 28, 2026$3.8B+0.8%8.8%$249M−$65.0M
Q4 202510-KMar 24, 2026$4.2B+7%9.5%$327M$938M
Q3 202510-QOct 28, 2025$3.7B+12%8.3%$248M$13.0M
Q2 202510-QAug 12, 2025$3.8B+11%6.9%$188M$274M
Q1 202510-QApr 29, 2025$3.8B+10%8.5%$224M−$166M

Charts

Smithfield Foods: revenue growth, year over year and quarter over quarterSmithfield Foods: revenue growth, year over year and quarter over quarterY/YQ/Q+10%Q1 2025+11%+0%Q2 2025+12%-1%Q3 2025+7%+13%Q4 2025+1%-10%Q1 2026-2%-3%Q2 2026-8%-7%Q3 2026
Latest (Q3 2026): Y/Y -8%, Q/Q -7%.
Smithfield Foods: where the cash came from (+) and went (−), FY2025Smithfield Foods: where the cash came from (+) and went (−), FY2025Operating cash flow$1.1BCash drawn (+) / kept (−)−$597MDividends−$396MCapital spending−$341MShares issued$236MOther investing$18.0MAsset & business sales$14.0MExchange rates$11.0MNet borrowing (+) / repaid (−)−$3.0MOther financing−$1.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Smithfield Foods: profit against cash, quarter by quarterSmithfield Foods: profit against cash, quarter by quarterNet incomeOperating cash flow$210M$683MQ4 2024$227M−$166MQ1 2025$188M$274MQ2 2025$252M$13.0MQ3 2025$331M$938MQ4 2025$249M−$65.0MQ1 2026$239M$269MQ2 2026$91.0M$161MQ3 2026
Latest (Q3 2026): Net income $91.0M, Operating cash flow $161M.
Smithfield Foods: diluted shares by fiscal yearSmithfield Foods: diluted shares by fiscal year380MFY2022380MFY2023380MFY2024393MFY2025
+3.3% since FY2022: more shares outstanding (issuance, stock pay).
Smithfield Foods: long-term debt falling due (FY2025)Smithfield Foods: long-term debt falling due (FY2025)$600M2027$400M2029$500M2030
Cash $1.5B, short-term investments —, long-term debt $2.0B at 2025-12-28.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About Smithfield Foods

Headquartered in Smithfield, Virginia, since 1936, Smithfield Foods, Inc., together with its subsidiaries (“Smithfield,” “the Company,” “we,” “us” or “our”), produces a wide variety of packaged meats and fresh pork products primarily in the United States (“U.S.”). Smithfield is an American food company that employs approximately 32,000 people in the U.S. and 2,500 people in Mexico. Smithfield’s portfolio includes high-quality iconic brands, such as Smithfield®, Eckrich® and Nathan’s Famous®, among many others. Smithfield is a majority owned subsidiary of Hong Kong-based WH Group Limited (“WH Group”).

In its own words, from its 10-K, filed Mar 24, 2026.

Smithfield Foods against its Meat Packing Plants peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median -2%. Operating margin: 3.7% against the peers' median 3.7%.

CompanyQuarterRevenueY/YOp. margin
SFD Smithfield FoodsQ3 2026$3.4B-8%3.7%
JBS JBS N.V.Q2 2026$23.9B+14%2.5%
HRL Hormel FoodsQ3 FY26$3.0B-2%3.7%

Source: Smithfield Foods 10-Q on SEC EDGAR · CIK 91388 · Meat Packing Plants

Guidance and outlook

Smithfield Foods Tax rate: guidance against what was reportedSmithfield Foods Tax rate: guidance against what was reportedguided rangereported (above / within / below)FY2026FY202522.1%
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns SFD and who is buying

Largest holders of SFD (13F)Largest holders of SFD (13F)Two Sigma Investments, LP$103MAQR Capital Management LLC$99.8MFMR LLC$70.5MGoldman Sachs Group$55.3MDimensional Fund Advisors LP$41.0MBlackRock$33.1MQube Research & Technologies$30.2MUBS Group AG$28.5MFourth Sail Capital LP$25.9MGotham Asset Management, LLC$25.3M
Funds' net buying of SFD by quarter (13F)Funds' net buying of SFD by quarter (13F)$505M2025-03−$17.9M2025-06$237M2025-09−$14.1M2025-12−$51.9M2026-03$61.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SFD

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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