WH Group posts 6.7% revenue growth and higher margins in Q1 2026 on stronger packaged-meats sales

Bulletin Express
04/28

WH Group reported unaudited first-quarter revenue of USD 6.99 billion, up 6.7% year on year. Operating profit rose 7.5% to USD 643.00 million, while profit attributable to shareholders before biological fair-value adjustments increased 8.8% to USD 396.00 million. Basic earnings per share advanced to 3.09 US cents (3.71 US cents after fair-value adjustments).

Sales momentum was driven by packaged meats, where volume climbed 9.4% to 781 thousand metric tons and revenue grew 11.5%. Segment operating profit expanded 15.4% to USD 578.00 million, reflecting a 25.6% profit increase in China on lower raw-material costs, a 4.5% gain in North America, and a 40.6% surge in Europe following the acquisition of German sausage producer Wolf.

Pork volumes rose 5.6% to 1.04 million metric tons, but segment revenue slipped 2.7% to USD 2.73 billion amid lower market prices in China and reduced hedging income in North America. Segment operating profit contracted 34.4% to USD 86.00 million, with losses in China and Europe outweighing a 5.4% profit rise in North America.

By geography, North America contributed USD 3.71 billion in revenue and USD 347.00 million in operating profit. China generated USD 2.17 billion in revenue and USD 251.00 million in operating profit despite a 22.8% drop in domestic hog prices. European operations delivered USD 1.11 billion in revenue and USD 45.00 million in operating profit, buoyed by stronger local currencies and increased sales of value-added products.

Total assets stood at USD 23.05 billion at 31 March 2026, up from USD 21.91 billion at year-end 2025. Equity attributable to shareholders increased to USD 11.54 billion from USD 11.19 billion.

Management reiterated its focus on product and channel transformation in China, resilience in the United States, and scale expansion in Europe, while seeking improvements in hog production efficiency and value-added processing across its global pork segment.

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