Smithfield Foods, Inc. · NASDAQ:SFD
Smithfield Foods — Investor Presentation (June 2025)
36 slides from Smithfield Foods's investor presentation, Jun 9, 2025
Slide 1: The New Smithfield Foods
June 2025 The New Smithfield Foods
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our st
Slide 3: Our Passionate, Experienced and Visionary Management Team
Our Passionate, Experienced and Visionary Management Team OUR CEO & CFO OUR SEGMENT HEADS SHANE SMITH MARK HALL STEVE FRANCE DONOVAN OWENS KRAIG WESTERBEEK President and Chief Financial President, President, President, Chief Executive Officer Officer Packaged Meats Fresh Pork Hog Production 21 11 22
Slide 4: What We Stand For
What We Stand For “ G O O D F O O D . R E S P O N S I B L Y . ®” At Smithfield Foods, we are helping to feed a world of nearly eight billion people. Our products are found on tables everywhere. We provide families with wholesome, safe and affordable food while finding new and innovative ways to care
Slide 5: A New Smithfield
Leader in Value-Added Packaged Meats with 1 Diverse Portfolio of Strong Brands Strong Competitive Advantages and History as 2 a Trusted Partner Known for Quality to Blue-Chip Customers Unmatched Scale and Global Reach in 3 Fresh Pork A New 4 Differentiated Supply Chain Supports Further Growth with S
Slide 6: Smithfield At-A-Glance
Smithfield At-A-Glance SCALED AMERICAN LED BY PACKAGED LEADING ON-SHELF STRONG FINANCIAL FOOD COMPANY MEATS PERFORMANCE POSITION $14.1Bn $8.3Bn #2 $3Bn+ Sales for the Fiscal Year Ended 12/29/2024 Packaged Meats Segment Sales for the Branded Market Share Across the 25 Key CapEx Invested Fiscal Year E
Slide 7: A Nearly 90-Year History
A Nearly 90-Year History with Significant Evolution Over the Last Decade 2014 - Today: More than doubled Packaged Meats profit since 2014 Carve-out of the European operations to WH Group 2024 Founded in Optimization of the Fresh Smithfield, VA as a Pork segment pork processing Take private of operat
Slide 8: A Leading Portfolio of Iconic Brands
A Leading Portfolio of Iconic Brands NATIONAL SUPER-REGIONAL VALUE SPECIALTY 52% (1) 12% (1) 17% (1) 16% (1) Note: 8 1. Represents percentage of Packaged Meats segment’s branded sales in retail channel for LTM period ended 12/29/2024; Other brands represent 3%
Slide 9: Smithfield Today
Smithfield Today Not the Smithfield You Knew Before Twelve Months Ended Twelve Months Ended December 28, 2014 (1) December 29, 2024 Improvement Total Company Sales $13.4Bn $14.1Bn 5% Packaged Meats Segment Sales $7.2Bn $8.3Bn 16% Packaged Meats Operating Profit $0.5Bn $1.1Bn (2) 2.4x Packaged Meats
Slide 10: Our Business Segments
Our Business Segments Packaged Meats • $1.1Bn adjusted operating profit business with segment Packaged Meats Adj. Operating Profit ($MM) sales of $8.3Bn for the 12-months ended December 29, 2024 (1) U.S. Packaged Meats Companies Retail Market Share (2) • Represents 59% of consolidated Smithfield net
Slide 11: Packaged Meats
Packaged Meats Our Cornerstone Business HIGHLY PROFITABLE, SERVING A PROVEN STRATEGIES TO ACCELERATE DIVERSE RANGE OF LOYAL CONSUMERS PROFITABLE ORGANIC GROWTH $8.3Bn Shift portfolio toward a higher mix of value-added and Segment Sales for the Fiscal Year Ended premium products 12/29/2024 Expand pro
Slide 12: We Lead Our Key Peers Across Profitability and Margin
We Lead Our Key Peers Across Profitability and Margin SMITHFIELD’S PACKAGED MEATS OPERATING PROFIT AND MARGIN CONSISTENTLY SURPASSES KEY PEERS KEY DIFFERENTIATING FACTORS Packaged Meats Segment Annual Operating Profit (% Margin) / ($MM) (1) ✓ Strong Customer Recognition 13.6% 12.9% 11.3% Targeting O
Slide 13: We Offer a Dynamic, Broad Product Assortment
We Offer a Dynamic, Broad Product Assortment FRESH MEAT DELI Carando Fresh Smithfield Fresh Carando Fresh Meatballs Marinated Pork Sausage Farmland Deli Meat Deli Meat Deli Meat Deli Meat Grinds Deli Cheese Roast Beef Turkey Off the Bone Ham Ham Smithfield Fresh Marinated Pork PACKAGED MEAT FROZEN F
Slide 14: Attractive and Diversified Channel Base
Attractive and Diversified Channel Base PACKAGED MEATS SEGMENT SALES HIGHLY PROFITABLE, SERVING A CHANNEL BREAKDOWN (1) DIVERSE RANGE OF LOYAL CONSUMERS International, Industrial and Other 6% 100% of the top 10 ranked grocery / club stores (2) 39% of 2024 retail channel sales volume was private labe
Slide 15: Fresh Pork
Fresh Pork Unmatched Scale With Global Reach SCALED, INTEGRATED PLATFORM IMPLEMENTED TARGETED STRATEGIC PROVIDING QUALITY PRODUCTS INITIATIVES DRIVING PROFITABILITY GLOBALLY GROWTH ~28MM Grow profitability by maximizing the value of Heads Processed in 2024 each hog +92% Capitalize on strong global d
Slide 16: Leveraging Our Fresh Pork Sales Channels to Utilize the Whole Hog
Leveraging Our Fresh Pork Sales Channels to Utilize the Whole Hog FURTHER ENHANCE FRESH PORK BY EXPANDING USE & INCREASING VALUE OF RAW MATERIALS Packaged Meats Domestic Adjacent Business Lines Export 16
Slide 17: Transformational Strategy in Hog Production
Transformational Strategy in Hog Production to Maintain High-Quality While Reducing Commodity Exposure STRATEGIC PLAN IN PLACE TO OPTIMIZE HOG PRODUCTION OPERATIONS DIFFERENTIATED SUPPLY CHAIN SERVICING DOWNSTREAM SEGMENTS Annual Hog Production (MM Heads) Support downstream business with 10% assured
Slide 18: Scaled Network
Scaled Network Differentiated and Flexible Supply Chain Supports Our Three Business Segments (1) 41 Processing facilities (2) $3Bn+ Capital Expenditures Since 2013 13.1MM lbs. Daily Production Capacity in Packaged Meats 107,900 Heads Daily Harvest Capacity in Fresh Pork Plants Headquarters 5 Distrib
Slide 19: Focused Sustainability Strategy
Focused Sustainability Strategy C O M M U N I T Y | DC E | W O R K E R FO O D S A FE T Y & Q UA L I T Y | H E A L T H A NI M A L C A R E | E N V I R O NM E NT H E A L T H & S A FE T Y & W E L L NE S S Good Stewards Good Work Good Food ✓ 2007: Announced the adoption of group ✓ 2008: Launched Helping
Slide 20: Clear Path to Driving Profitable Growth
Clear Path to Driving Profitable Growth by Executing On Our Strategy Drive Growth of Continue Further Enhance Optimize Our Execute Packaged Meats Investing in Fresh Pork Operations and Synergistic M&A Innovation Supply Chain to in North America Drive Margin A B C D E 20
Slide 21: Volume Growth: We Participate in Ten $1Bn+ Packaged Meats Sub-Categories
Volume Growth: We Participate in Ten $1Bn+ Packaged Meats Sub-Categories MARKET MARKET PACKAGED MEATS SUB-CATEGORIES ($BN) (1) KEY SMITHFIELD BRANDS SHARE (2) POSITION (2) Deli Meat Deli Meat $6.9 $6.9 $6.9 15% #2 Deli Meat $7.1 Packaged Lunch Meat Packaged Lunch Meat $6.3$6.3 $6.3 8% #5 Packaged Lu
Slide 22: A Portfolio Across Price Points
A Portfolio Across Price Points Resonating with Consumers’ Preferences WE DELIVER VALUE TO CONSUMERS ACROSS A WIDE RANGE OF PRICE POINTS Packaged Lunch Meat – Average Retail Price Comparison of Our Brands vs. Select Competitors (1) ARP / Pound $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 $
Slide 23: Leveraging Scale and Integrated Salesforce to Deepen our Presence Across Retail Distribution Points
Leveraging Scale and Integrated Salesforce to Deepen our Presence Across Retail Distribution Points 93% CLEAR OPPORTUNITY FOR PACKAGED MEATS BRANDS (ACV BY BRAND) (1) 56% 41% 40% 40% 33% Smithfield (Company) John Morrell Farmland Carando Margherita Curly's (Company) Super Regional Specialty Note: 23
Slide 24: Mix Shift: We Continue to Drive Profitable Unit Growth of Value-Added Premium Products
Mix Shift: We Continue to Drive Profitable Unit Growth of Value-Added Premium Products INCREASING PENETRATION OF HIGHER-MARGIN DRY INCREASING PURCHASING OCCASIONS SAUSAGE PRODUCTS THROUGH EXPANDING DISTRIBUTION AND UNIT SALES BY ADDRESSING CONSUMER TRENDS POINTS & MANUFACTURING CAPACITY Increase Uni
Slide 25: Product Innovation: Addressing Consumer Trends
Product Innovation: Addressing Consumer Trends CONTINUE LAUNCHING PRODUCTS THAT TARGET SPECIFIC NEEDS AND EXPAND PORK CONSUMPTION FLAVOR & VARIETY Andouille Smoked Carando Hot Sicilian Nathan’s Hot & Spicy Sausage Ground Italian Sausage CONVENIENCE Armour Everything Carando Fresh Farmland Taco Style
Slide 26: Multiple Growth Levers
Multiple Growth Levers Combination of our organic and inorganic growth levers can have a meaningful impact Packaged Operational Synergistic A Meats B Innovation C Fresh Pork D Excellence E M&A Brand Categories U.S. Value-Add Hog Production Complementary M&A Powerful brands drive Grow penetration in
Slide 27: Resilient Business Model
Resilient Business Model Underpinned by Packaged Meats Profitability and Strong Balance Sheet Sales ($MM) Adjusted EBITDA from Continuing Operations ($MM) (1) % Margin(2): 8% 7% 4% 10% $1,257 $1,197 $1,379 $16,199 $15,009 $14,640 $14,142 We have grown $610 our business profitably through our focus o
Slide 28: Record Q1 2025 Results
Record Q1 2025 Results Consolidated Results Compared to Prior Year Thirteen Weeks Thirteen Weeks in $MM Ended March 30, Ended March 31, % Change except EPS in $ / share 2025 2024 Sales $3,771 $3,444 9.5% Adj. Operating $326 $176 85.7% Profit (1) Adj. Operating 8.6% 5.1% 350bps Profit Margin (1) Adj.
Slide 29: FY 2025 Guidance
FY 2025 Guidance1 Packaged Meats Sales Low-to-Mid-Single-Digit Growth Compared to FY 24 $1,050 - $1,150 MM Adj. Operating Profit2 $1,100 - $1,300 Fresh Pork Capex $400 - $500 MM $150 - $250 MM Effective Tax Rate 23% - 25% Hog Production ($50) - $50 MM 1 Reflects the Company’s outlook provided on Apr
Slide 30: Capital Allocation Focused on Business Reinvestment and Shareholder Return
Capital Allocation Focused on Business Reinvestment and Shareholder Return SHAREHOLDER PAYOUT DRIVE REINVEST IN THE THROUGH REGULAR OPPORTUNISTIC M&A GROWTH BUSINESS DIVIDEND ✓ Continue to invest in product ✓ Continue to improve automation ✓ Expected annual dividends of ✓ Disciplined execution of in
Slide 31: Thank You!
Thank You!
Slide 32: Appendix
Smithfield. Good food. Responsibly:
Slide 33: Adjusted Operating Profit Reconciliation
Adjusted Operating Profit Reconciliation Fiscal Year 2024 Packaged Meats Fresh Pork Hog Production Other (1) Corporate (2) Unallocated (3) Consolidated Operating profit (loss) $1,168 $266 $(144) $35 $(153) $(55) $1,118 Employee retention tax credits (38) (41) (8) — — — (87) West Coast Exit and Hog P
Slide 34: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation Three Months Ended March 30, 2025 March 31, 2024 $ millions Net income from continuing operations attributable to Smithfield $224 $114 Reduction in workforce (1) 9 — Plant closure 1 — Hog Production Reform (2) 1 10 Insurance recoveries (3) (6) — Incremental costs f
Slide 35: Adjusted EBITDA and Net Debt Reconciliations
Adjusted EBITDA and Net Debt Reconciliations Fiscal Year Three Months Ended TTM Ended $ millions 2014 2021 2022 2023 2024 3/31/2024 3/30/2025 3/30/2025 Sales $13,418 $15,009 $16,199 $14,640 $14,142 $3,444 $3,771 $14,469 Net income (loss) from continuing operations $437 $389 $811 $(133) $798 $112 $22
Slide 36: goodiswhatwedo.com
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