Filing Flows › Smithfield Foods (SFD) › Q2 2026
Smithfield Foods (SFD) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 11, 2026
Smithfield Foods (SFD) reported revenue of $3.7B for the second quarter 2026 (Q2 2026), -2% from a year earlier and -3% from the quarter before. Operating margin was 7.8%, net earnings $239M (6.5% of revenue).
Smithfield Foods, Q2 2026: revenue $3.7B (-2% year over year), operating margin 7.8%, net earnings $239M, operating cash flow $269M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | -3% | -2% |
| Gross profit | $478M | -6% | -4% |
| Operating profit | $290M | -13% | +12% |
| Net earnings | $239M | -4% | +27% |
| Operating cash flow | $269M | — | -2% |
| Free cash flow | $192M | — | -2% |
What changed
Revenue was $3.7B in Q2 2026, down 2% year over year and down 3% from the previous quarter. Packaged Meats was the largest line at 55% of revenue. Hog Production lost $0.06B year over year (down 18%), 66% of the total change.
Gross margin was 12.9%, down 0.3 points from Q2 2025. Operating profit was $0.29B, a 7.8% margin (up 1.0 points year over year). Operating expenses fell 21% while revenue fell 2%. Net earnings were $0.24B, up 27% year over year. The effective tax rate was 21.1%.
Operating cash flow was $0.27B (down 2% year over year), 113% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization. Working capital and other items used $0.06B. Capital expenditures of $0.08B left free cash flow of $0.19B.
Questions
What was Smithfield Foods' revenue in the second quarter 2026?
Smithfield Foods (SFD) reported revenue of $3.7B for the second quarter 2026 (Q2 2026), -2% from a year earlier and -3% from the quarter before.
Was Smithfield Foods profitable in the second quarter 2026?
Operating profit was $290M (7.8% of revenue) and net earnings $239M.
Source: Smithfield Foods 10-Q on SEC EDGAR.