Smithfield Foods down after full-year forecast cuts
SFD•Smithfield shares fall after outlook cut
Shares of U.S. pork processor Smithfield Foods SFD.O were down 3.4% at $23.60 in premarket trading.
The company cut its annual total sales and adjusted operating profit forecasts, citing ongoing challenges including cautious consumer spending and higher input costs.
It now expects FY2026 sales to be roughly flat, versus prior expectations of low-single-digit percentage growth.
It also sees adjusted operating profit between $1.23 billion and $1.38 billion, compared with its prior forecast of $1.33 billion to $1.48 billion.
Smithfield reported quarterly sales of $3.7 billion, versus analysts' estimates of $3.68 billion, according to data compiled by LSEG.
It logged second-quarter adjusted EPS of 62 cents, versus expectations of 60 cents.
As of the last close, the stock was up 9.5% year to date.
