Filing Flows › Smithfield Foods (SFD) › Q1 2025
Smithfield Foods (SFD) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Smithfield Foods (SFD) reported revenue of $3.8B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -5% from the quarter before. Operating margin was 8.5%, net earnings $224M (5.9% of revenue).
Smithfield Foods, Q1 2025: revenue $3.8B (+10% year over year), operating margin 8.5%, net earnings $224M, operating cash flow −$166M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | -5% | +9% |
| Gross profit | $510M | -4% | +41% |
| Operating profit | $321M | -4% | +97% |
| Net earnings | $224M | +10% | +44% |
| Operating cash flow | −$166M | — | — |
What changed
Revenue was $3.8B in Q1 2025, up 9% year over year and down 5% from the previous quarter. Packaged Meats was the largest line at 54% of revenue. Hog Production added $0.27B year over year (up 210%), 82% of the total change. Other declined 9%.
Gross margin was 13.5%, up 3.0 points from a year earlier. Operating profit was $0.32B, a 8.5% margin (up 3.8 points year over year). Of the extra revenue versus a year earlier, 48% reached operating profit, above the 5% margin then. Operating expenses fell 5% while revenue rose 9%. Net earnings were $0.22B, up 44% year over year. The effective tax rate was 24.1%.
Operating cash flow was −$0.17B. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.48B. Capital expenditures of $0.08B exceeded it, leaving free cash flow of −$0.24B.
Questions
What was Smithfield Foods' revenue in the first quarter 2025?
Smithfield Foods (SFD) reported revenue of $3.8B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -5% from the quarter before.
Was Smithfield Foods profitable in the first quarter 2025?
Operating profit was $321M (8.5% of revenue) and net earnings $224M.
Source: Smithfield Foods 10-Q on SEC EDGAR.