Smithfield Foods, Inc. ( (SFD) ) has released its Q4 earnings. Here is a breakdown of the information Smithfield Foods, Inc. presented to its investors.
Smithfield Foods, Inc. is a leading American food company specializing in value-added packaged meats and fresh pork products, known for its diverse brand portfolio and strong relationships with U.S. farmers and customers.
Smithfield Foods has reported strong financial results for the fourth quarter and fiscal year 2024, driven by record profits in its Packaged Meats segment. The company also declared a quarterly dividend of $0.25 per share and provided a positive financial outlook for fiscal 2025.
For the full fiscal year 2024, Smithfield Foods achieved net sales of $14.1 billion and an operating profit of $1.1 billion. The Packaged Meats segment was a standout performer, with an operating profit of $1.2 billion and a margin of 14.0%, both setting new records. The fourth quarter saw net sales of $4.0 billion and an operating profit of $335 million, reflecting a significant improvement from the previous year.
Looking ahead, Smithfield Foods aims to continue its strategic focus on optimizing its Packaged Meats, Fresh Pork, and Hog Production segments. The company expects to achieve an adjusted operating profit of between $1.1 billion and $1.3 billion for fiscal year 2025, with sales projected to grow in the low-to-mid-single-digit percentage range.
With a solid financial foundation and a strong balance sheet, Smithfield Foods is well-positioned to support its growth strategies and enhance shareholder value in the coming year.