Filing Flows › Smithfield Foods (SFD) › Q1 2026
Smithfield Foods (SFD) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 28, 2026
Smithfield Foods (SFD) reported revenue of $3.8B for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and -10% from the quarter before. Operating margin was 8.8%, net earnings $249M (6.6% of revenue).
Smithfield Foods, Q1 2026: revenue $3.8B (+0.8% year over year), operating margin 8.8%, net earnings $249M, operating cash flow −$65.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | -10% | +0.8% |
| Gross profit | $511M | -15% | +0.2% |
| Operating profit | $333M | -17% | +4% |
| Net earnings | $249M | -25% | +10% |
| Operating cash flow | −$65.0M | -107% | — |
What changed
Revenue was $3.8B in Q1 2026, up 1% year over year and down 10% from the previous quarter. Packaged Meats was the largest line at 57% of revenue. Packaged Meats added $0.12B year over year (up 6%), 431% of the total change. Hog Production declined 37%.
Gross margin was 13.4%, down 0.1 points from Q1 2025. Operating profit was $0.33B, a 8.8% margin (up 0.3 points year over year). Of the extra revenue versus Q1 2025, 41% reached operating profit, above the 9% margin then. Operating expenses fell 6% while revenue rose 1%. Net earnings were $0.25B, up 10% year over year. The effective tax rate was 22.4%.
Operating cash flow was −$0.07B. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.40B. Capital expenditures of $0.09B exceeded it, leaving free cash flow of −$0.15B.
Questions
What was Smithfield Foods' revenue in the first quarter 2026?
Smithfield Foods (SFD) reported revenue of $3.8B for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and -10% from the quarter before.
Was Smithfield Foods profitable in the first quarter 2026?
Operating profit was $333M (8.8% of revenue) and net earnings $249M.
Source: Smithfield Foods 10-Q on SEC EDGAR.