Filing Flows › Smithfield Foods (SFD) › Q2 2025
Smithfield Foods (SFD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 12, 2025
Smithfield Foods (SFD) reported revenue of $3.8B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +0.4% from the quarter before. Operating margin was 6.9%, net earnings $188M (5.0% of revenue).
Smithfield Foods, Q2 2025: revenue $3.8B (+11% year over year), operating margin 6.9%, net earnings $188M, operating cash flow $274M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | +0.4% | +11% |
| Gross profit | $499M | -2% | -5% |
| Operating profit | $260M | -19% | -22% |
| Net earnings | $188M | -17% | -39% |
| Operating cash flow | $274M | — | +30% |
| Free cash flow | $196M | — | +51% |
What changed
Revenue was $3.8B in Q2 2025, up 11% year over year and roughly flat from the previous quarter. Packaged Meats was the largest line at 55% of revenue. Hog Production added $0.20B year over year (up 183%), 55% of the total change.
Gross margin was 13.2%, down 2.3 points from a year earlier. Operating profit was $0.26B, a 6.9% margin (down 2.9 points year over year). Operating profit fell $0.07B even though revenue rose $0.37B versus a year earlier, so costs grew faster than sales. Operating expenses grew 24% against revenue growth of 11%. Net earnings were $0.19B, down 38% year over year. The effective tax rate was 24.8%.
Operating cash flow was $0.27B (up 30% year over year), 146% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Capital expenditures of $0.08B left free cash flow of $0.20B.
Questions
What was Smithfield Foods' revenue in the second quarter 2025?
Smithfield Foods (SFD) reported revenue of $3.8B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +0.4% from the quarter before.
Was Smithfield Foods profitable in the second quarter 2025?
Operating profit was $260M (6.9% of revenue) and net earnings $188M.
Source: Smithfield Foods 10-Q on SEC EDGAR.