Smithfield Foods Reports Record First Quarter Fiscal 2026 Results

About this update from Smithfield Foods, Inc.

SMITHFIELD, Va., April 28, 2026 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (Nasdaq: SFD), an American food company and an industry leader in value-added packaged meats and fresh pork, today reported results for its fiscal 2026 first quarter ended March 29, 2026. First Quarter Fiscal 2026 Financial Highlights CEO Perspective “We delivered record first‑quarter results through disciplined execution across the business, led by strong performance in Packaged Meats,” said Smithfield President and CEO Shane Smith. “Adjusted operating profit reached a first‑quarter record, underscoring the strength of our vertically integrated model. This performance reflects the actions our team is taking to drive profitable growth while navigating a dynamic operating environment.” Smith added, “We are actively managing inflationary input costs and consumer spending trends, and our record first‑quarter results support our confidence in our outlook for 2026. Our strong balance sheet and cash flow generation give us the flexibility to invest behind our strategic priorities and continue driving profitable growth and long‑term shareholder value.” Review of Financial Results Results of Operations Sales Operating Profit (Loss) and Operating Profit Margin by Segment ________________(1)   We do not allocate certain items to our operating segments such as litigation charges, exit and disposal costs, insurance recoveries, gains and losses on the sale of property, plant and equipment and other assets, accelerated depreciation, and employee termination benefits, among others. Financial Position As of March 29, 2026, we had $3,683 million of available liquidity consisting of $1,386 million in cash and cash equivalents and $2,298 million of availability under our committed credit facilities. We ended the quarter with a ratio of net debt to adjusted EBITDA(1) on a trailing twelve months basis of 0.4x.________________(1)   A non-GAAP measure. Please see the table in the Non-GAAP Financial Measures section for a reconciliation of the ratio of net debt to adjusted EBITDA to the most comparable GAAP measure. Dividend Update On March 23, 2026, our Board declared a quarterly cash dividend of $0.3125 per share of common stock, which was paid on April 21, 2026, to shareholders of record on April 7, 2026. We anticipate the remaining quarterly dividends in fiscal year 2026 will ...

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