Smithfield Foods lowers Q3 outlook as pork margins and hog prices fall
On September 8, 2026, Smithfield Foods updated its third quarter 2026 outlook ahead of the Barclays Global Consumer Staples Conference, citing further pressure on the fresh pork market spread and lower hog prices. The company now expects a Fresh Pork third quarter adjusted operating loss of $70 million to $90 million and total company third quarter adjusted operating income of $115 million to $175 million, while reaffirming its fiscal 2026 Packaged Meats outlook. Shareholders will receive updated full-year Fresh Pork, Hog Production and total company guidance with third quarter results.
Key points
- Fresh Pork third quarter adjusted operating loss now expected at $70 million to $90 million, driven by industry spread compression.
- Hog Production third quarter adjusted operating profit now expected at $25 million to $45 million, driven by lower hog prices.
- Total company third quarter adjusted operating income expected at $115 million to $175 million.
- Packaged Meats fiscal 2026 adjusted operating income outlook of $1.075 billion to $1.15 billion reaffirmed, unchanged from the prior range.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 08, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.