Smithfield Foods reported a record adjusted operating profit of $638 million for the first half of fiscal 2026. This figure represents a 2.3% increase compared to the previous year. Net sales for the period fell 0.8% to $7.5 billion.
The company cited macroeconomic pressures, including cautious consumer spending and rising input costs, for the revised outlook. Smithfield now expects full-year sales to remain flat. This replaces the previous forecast of low-single-digit growth.
Consequently, the company lowered its full-year adjusted operating profit guidance to a range of $1.225 billion to $1.375 billion. The previous estimate ranged from $1.325 billion to $1.475 billion.