Smithfield Foods (SFD) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 12:20 PM CDT 37 min read

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DATE

Tuesday, April 28, 2026 astatine 9 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — Shane Smith

• Chief Financial Officer — Mark Hall

• President, Packaged Meats — Steven J. France

• President, North America Pork — Donovan Owens

• Vice President, Investor Relations — Julie MacMedan

Full Conference Call Transcript

Julie MacMedan: Thank you, Operator, and bully morning, everyone. Welcome to Smithfield Foods, Inc.’s archetypal 4th 2026 net call. Earlier this morning, we announced our results. A transcript of the release, on with today’s presentation, is disposable connected our Investor Relations website. Today’s presumption contains projections and different forward-looking statements that are being provided pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements see each comments reflecting our expectations, assumptions, oregon beliefs astir aboriginal events oregon show that bash not subordinate solely to humanities periods. These statements are taxable to risks and uncertainties that could origin existent results to disagree materially from our expectations and projections.

These risks and uncertainties include, but are not constricted to, the factors identified successful the release, successful our Annual Report connected Form 10-K, our Quarterly Reports connected Form 10-Q, and our different filings with the Securities and Exchange Commission. The institution undertakes nary work to update oregon revise immoderate forward-looking statements, whether arsenic a effect of caller information, aboriginal events, oregon otherwise. Please notation to our ineligible disclaimer connected Slide 2 of the presumption for further information. Today’s presumption volition besides see definite non-GAAP measures including, but not constricted to, adjusted operating nett and margin, adjusted nett income, adjusted net per share, and adjusted EBITDA.

For a reconciliation of these and different non-GAAP measures to the corresponding GAAP measures, delight notation to our net property merchandise and our descent presumption connected our website. Finally, each references to retail measurement and marketplace stock are based connected Circana ViQ/Total US MULO+ data. With maine this greeting are Shane Smith, President and CEO; Mark Hall, CFO; Steven J. France, President of Packaged Meats; and Donovan Owens, President of North America Pork. With that, I volition present crook the treatment implicit to Shane. Shane?

Shane Smith: Thank you, Julie. Good morning, everyone. I americium pleased to study grounds archetypal 4th adjusted operating nett of $339 cardinal and an adjusted operating nett borderline of 8.9%. Our outstanding results bespeak disciplined execution of our semipermanent strategies, peculiarly successful packaged meats, reinforcing the benefits of our vertically integrated exemplary successful a dynamic operating environment. Looking astatine nett by segment, Packaged Meats delivered operating nett of $275 million, up 4% versus 2025. Packaged Meats income of $2.1 cardinal accrued by 6% compared to 2025. This was driven by measurement maturation of 3.5%, chiefly reflecting the earlier Easter holiday. Excluding the interaction of the earlier Easter timing, our measurement was inactive up 1.3%.