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How Smithfield Foods (SFD) makes money
Smithfield Foods (SFD) made $3.4B of revenue in the third quarter 2026 (Q3 2026), -8% from a year earlier. Packaged Meats brought in $2.0B (58%); Fresh Pork brought in $1.1B (32%); Hog Production brought in $197M (6%). Of every dollar of revenue, 9¢ was left as gross profit, 4¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Packaged Meats | $2.0B | 57.6% | -2% | -5% |
| Fresh Pork | $1.1B | 32.2% | -12% | -13% |
| Hog Production | $197M | 5.7% | -24% | -22% |
| Other | $151M | 4.4% | -1% | +15% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.4B | 100.0% |
| Cost of revenue | $3.1B | 90.9% |
| Gross profit | $313M | 9.1% |
| Operating expenses | $186M | 5.4% |
| Operating profit | $127M | 3.7% |
| Income tax | $30.0M | 0.9% |
| Net earnings | $89.0M | 2.6% |
| Operating cash flow | $161M | 4.7% |
| Free cash flow | $45.0M | 1.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.4B | -8% |
| Q2 2026 | $3.7B | -2% |
| Q1 2026 | $3.8B | +0.8% |
| Q4 2025 | $4.2B | +7% |
| Q3 2025 | $3.7B | +12% |
| Q2 2025 | $3.8B | +11% |
| Q1 2025 | $3.8B | +10% |
From Smithfield Foods' 10-Q filed Oct 27, 2026 (on EDGAR).
Questions
How does Smithfield Foods make money?
Smithfield Foods (SFD) made $3.4B of revenue in the third quarter 2026 (Q3 2026), -8% from a year earlier. Packaged Meats brought in $2.0B (58%); Fresh Pork brought in $1.1B (32%); Hog Production brought in $197M (6%). Of every dollar of revenue, 9¢ was left as gross profit, 4¢ was left as operating profit, 3¢ was left as net earnings.
What is Smithfield Foods' biggest business?
Packaged Meats: $2.0B in the third quarter 2026, 58% of revenue, -5% from a year earlier.
What is Smithfield Foods' profit margin?
Net earnings were $89.0M, 2.6% of revenue, in the third quarter 2026; the operating margin was 3.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.