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Smithfield Foods (SFD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Smithfield Foods (SFD) reported revenue of $3.7B for the third quarter 2025 (Q3 2025), +12% from a year earlier and -1% from the quarter before. Operating margin was 8.3%, net earnings $248M (6.6% of revenue).
Smithfield Foods, Q3 2025: revenue $3.7B (+12% year over year), operating margin 8.3%, net earnings $248M, operating cash flow $13.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | -1% | +12% |
| Gross profit | $479M | -4% | +0.6% |
| Operating profit | $310M | +19% | +9% |
| Net earnings | $248M | +32% | -15% |
| Operating cash flow | $13.0M | -95% | -95% |
What changed
Revenue was $3.7B in Q3 2025, up 12% year over year and down 1% from the previous quarter. Packaged Meats was the largest line at 56% of revenue. Packaged Meats added $0.17B year over year (up 9%), 42% of the total change.
Gross margin was 12.8%, down 1.5 points from a year earlier. Operating profit was $0.31B, a 8.3% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 6% reached operating profit, below the 9% margin then. Operating expenses fell 12% while revenue rose 12%. Net earnings were $0.25B, down 15% year over year. The effective tax rate was 22.0%.
Operating cash flow was $0.01B (down 95% year over year), 5% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.32B. Capital expenditures of $0.09B exceeded it, leaving free cash flow of −$0.07B.
Questions
What was Smithfield Foods' revenue in the third quarter 2025?
Smithfield Foods (SFD) reported revenue of $3.7B for the third quarter 2025 (Q3 2025), +12% from a year earlier and -1% from the quarter before.
Was Smithfield Foods profitable in the third quarter 2025?
Operating profit was $310M (8.3% of revenue) and net earnings $248M.
Source: Smithfield Foods 10-Q on SEC EDGAR.