Shares of the company were down 3% in premarket trading.
Sales of its Hog Production unit fell 8.2% to $772 million from last year.
President Donald Trump has been considering potential executive actions to reduce tariffs on beef imports and regulations on producers as part of an attempt to lower domestic beef prices.
Peer Tyson Foods (TSN.N) last week also lowered its annual profit forecast, warning that losses in its beef business would widen as tight U.S. cattle supplies keep livestock costs elevated.
Smithfield Foods now expects fiscal 2026 sales to be roughly flat, compared with its prior expectations of low-single-digit percentage growth.
The company also expects adjusted operating profit between $1.23 billion and $1.38 billion, compared with its prior forecast of $1.33 billion to $1.48 billion.
However, it beat second-quarter sales and profit estimates.
For the three months ended June 28, Smithfield logged sales of $3.7 billion, slightly beating analysts' estimates of $3.68 billion, according to data compiled by LSEG.
It earned 62 cents per share on an adjusted basis, above expectations of 60 cents.
