Smithfield Foods sells its products primarily to other companies. Its major customers include:

• Walmart Inc. (Symbol: WMT)
• The Kroger Co. (Symbol: KR)
• Costco Wholesale Corporation (Symbol: COST)
• Sysco Corporation (Symbol: SYY)
• US Foods Holding Corp. (Symbol: USFD)

Shane Smith, President and Chief Executive Officer

Shane Smith has served as President and Chief Executive Officer of Smithfield Foods since July 2021. He joined the company in 2003 and has held a wide range of leadership roles across Smithfield's operations, including finance, renewables, and hog production. Smith previously served as Smithfield's Chief Strategy Officer, where he led the company's organic and mergers and acquisitions growth initiatives. His prior roles also include Executive Vice President of Smithfield's European operations and Chief Financial Officer of Smithfield Europe. He also served as an executive director and a member of the board of directors at WH Group, Smithfield's parent company, until Smithfield's IPO in January 2025.

Mark Hall, Chief Financial Officer

Mark Hall assumed the role of Chief Financial Officer in January 2023. He joined Smithfield Foods in 2014 as Vice President of Finance for the John Morrell Food Group. Hall has over 25 years of industry experience and previously served as Smithfield's Executive Vice President of Finance, overseeing various financial functions. Before joining Smithfield, he held finance positions with The Quaker Oats Company and McCain Foods USA Inc. His career began in public accounting at Arthur Andersen LLP and included work in equity research for Legg Mason Wood Walker Inc.

Keller Watts, Chief Business Officer

Keller Watts has served as Smithfield's Chief Business Officer since January 2023. With over 30 years at the company, he is responsible for executing the company's business strategy, leading its fresh and packaged business management, raw material procurement, and supply planning teams. Watts has held diverse roles within Smithfield, including sales, marketing, revenue management, supply chain, strategic sourcing, and research and development.

Doug Sutton, Ph.D., Chief Manufacturing Officer

Doug Sutton, Ph.D., has been Smithfield's Chief Manufacturing Officer since January 2023. He joined the company in 2001 and has held leadership positions such as Executive Vice President, Manufacturing, and Vice President, Research and Development. Dr. Sutton holds a Bachelor of Animal Science and a Master of Animal Science from Oklahoma State University, along with a Ph.D. in Animal Science from the University of Illinois Urbana-Champaign.

Kraig Westerbeek, President, Hog Production

Kraig Westerbeek was named President, Hog Production, in February 2024, and is responsible for all of Smithfield's U.S. swine production operations. He joined the company in 1993 and has served in various leadership capacities, including Vice President, Smithfield Renewables and hog production environmental compliance. Westerbeek was also instrumental in the formation of Smithfield Renewables in 2017 and previously held the role of chief development officer for Smithfield's joint venture, Monarch.

Key Risks to Smithfield Foods (SFD)

1. Animal Disease Outbreaks and Food Safety Concerns: Smithfield Foods faces significant risks from foreign animal diseases, such as African Swine Fever, which can lead to devastating impacts on hog supply, market closures, and operational disruptions. Additionally, the business is vulnerable to food safety issues and product recalls resulting from bacterial contamination (e.g., Salmonella, Listeria, E. coli) or other hazards, which can cause substantial financial losses, harm brand reputation, and erode consumer trust.
2. Commodity Price Volatility and Intense Market Competition: The profitability of Smithfield Foods, particularly its Hog Production segment, is significantly influenced by the cyclical nature of commodity markets and fluctuations in hog and feed prices. The highly competitive meatpacking industry, with major players vying for market share, necessitates continuous innovation and efficiency for Smithfield to maintain its profitability and market position.
3. Regulatory and Trade Policy Shifts, and Geopolitical Risks: Changes in international trade policies, the imposition of tariffs, and ongoing scrutiny related to Smithfield's ownership by Chinese investors pose considerable risks to its export markets and overall business operations. Broader geopolitical events can also disrupt global supply chains and lead to increased input costs, further impacting the company's financial performance.

Smithfield Foods (SFD) operates in the pork production and processed meats markets, offering a wide range of products including fresh pork, bacon, sausage, hot dogs, and deli meats.

Addressable Markets for Smithfield Foods' Main Products and Services:

• Global Pork Meat Market: The global pork meat market was estimated at USD 293.18 billion in 2023 and is projected to reach USD 424.44 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030. Another estimate placed the global pork meat market size at USD 302.28 billion in 2025, with a projection to reach USD 441.65 billion by 2035, at a CAGR of 3.86% from 2026 to 2035. The fresh pork segment alone was valued at USD 383.9 billion globally in 2024.
• U.S. Pork Meat Market: The North American pork meat market was valued at USD 51.81 billion in 2023. The U.S. pork meat market is expected to grow at a CAGR of 6.5% from 2024 to 2030.
• Global Processed Meat Market: The global processed meat market was valued at USD 740.61 billion in 2025 and is projected to reach USD 1,260.84 billion by 2034, growing at a CAGR of 6.09% from 2025 to 2034.
• U.S. Processed Meat Market: In the U.S., the processed meat market was valued at USD 128.28 billion in 2024 and is projected to reach approximately USD 235.60 billion by 2034, with a CAGR of 6.25% from 2025 to 2034.
• Global Bacon Market: The global bacon market was estimated at US$75.7 billion in 2024 and is expected to reach US$97.2 billion by 2030, with a CAGR of 4.2%. Another report estimated the global bacon market size at USD 75.16 billion in 2025, projected to grow to USD 95.92 billion by 2034 at a CAGR of 2.75%.
• U.S. Bacon Market: The bacon market in the U.S. was estimated at US$19.9 billion in 2024. The North America bacon market holds the largest share globally, accounting for approximately 38% of the total market.
• Global Sausage Market: The global sausage market was valued at USD 99933.35 million (approximately USD 99.93 billion) in 2024 and is expected to reach USD 149127.59 million (approximately USD 149.13 billion) by 2033, growing at a CAGR of 4.5% from 2025 to 2033.
• North America Hot Dog and Sausages Market: This market was valued at USD 39.85 billion in 2023 and is projected to reach USD 51.39 billion by the end of 2030, with a CAGR of 3.7%.
• U.S. Sausage Market: Annual sales of sausage in the United States are estimated at $12 billion. The breakfast sausage market globally was estimated at USD 6.5 billion in 2024 and is expected to grow to USD 13.6 billion in 2034.

Share Issuance

• Smithfield Foods returned to the public market through an initial public offering (IPO) on January 28, 2025, trading under the ticker symbol "SFD" on the Nasdaq Global Select Market.
• The company offered 26,086,958 shares of common stock at $20.00 per share, raising a total of $522 million.
• Of the shares offered, 13,043,479 were sold by Smithfield Foods, and an equal number were sold by an existing shareholder.