AcquisitionsAug 11, 2026, 08:12 AM
Smithfield Foods to Acquire Nathan's Famous; Q2 Net Income $238M
AI Summary
Smithfield Foods announced an agreement to acquire Nathan's Famous, Inc. for $102.00 per share in cash, expected to close in the second half of 2026. For the second quarter ended June 28, 2026, net income attributable to Smithfield increased to $238 million ($0.61 EPS) from $188 million ($0.48 EPS) in the prior year. Sales for the quarter were $3.70 billion, a slight decrease from $3.79 billion, while operating profit rose to $290 million from $260 million. The company also continued restructuring efforts, including closing its Springfield, MA facility.
Key Highlights
- Agreed to acquire Nathan's Famous, Inc. for $102.00 per share in cash.
- Q2 2026 net income attributable to Smithfield rose to $238M from $188M YoY.
- Q2 2026 basic EPS increased to $0.61 from $0.48 YoY.
- Q2 2026 sales were $3.70B, down from $3.79B YoY.
- Q2 2026 operating profit increased to $290M from $260M YoY.
- Declared a quarterly dividend of $0.3125 per share.
- Closing Springfield, MA facility; recognized $6M in H1 2026 restructuring costs.
- Hog Production segment operating profit increased to $64M from $22M YoY.
Price Impact
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