Quarterly ResultApr 28, 2026, 08:06 AM
SFD Q1 Net Income +9.7% to $249M; EPS $0.63; Nathan's Acquisition Pending
AI Summary
Smithfield Foods reported a strong first quarter with net income attributable to Smithfield increasing by 9.8% to $246 million and diluted EPS rising to $0.62. The company also announced an agreement to acquire Nathan's Famous Inc. for $102.00 per share in cash, with the transaction now expected to close in the second half of 2026. Additionally, Smithfield is undertaking restructuring initiatives, including the closure of its Springfield, Massachusetts facility and administrative process optimization, incurring $3 million in Q1 charges.
Key Highlights
- Agreement to acquire Nathan's Famous Inc. for $102.00 per share in cash.
- Net income attributable to Smithfield increased 9.8% to $246 million.
- Diluted EPS rose 8.8% to $0.62 from $0.57 year-over-year.
- Sales increased 0.8% to $3.80 billion.
- Packaged Meats segment sales grew 6.2% to $2.15 billion.
- Hog Production segment operating profit surged 300% to $4 million.
- Declared dividends of $0.3125 per share, up 25% YoY.
- Restructuring charges of $3 million recognized in Q1 2026.