Smithfield Foods, Inc. reported strong financial results for its fourth quarter and fiscal year ended December 29, 2024, on March 25, 2025. For fiscal year 2024, the company delivered over $1.1 billion in operating profit and $1.0 billion in adjusted operating profit, a nearly four-fold increase from $258 million in 2023.
Fourth quarter 2024 sales totaled $3.951 billion, a slight decrease from $3.998 billion in Q4 2023, but operating profit rebounded significantly to $335 million from a loss of $116 million in the prior year period. The Packaged Meats segment achieved record profits, while the Hog Production segment saw a more than $600 million increase in profitability.
The company declared a quarterly cash dividend of $0.25 per share, payable April 22, 2025, and anticipates an annual dividend rate of $1.00 per share for fiscal year 2025. For fiscal year 2025, Smithfield projects total company adjusted operating profit between $1.1 billion and $1.3 billion, with total sales expected to increase in the low to mid-single-digit percentage range.
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