HK Stock Market Move | WH GROUP (00288) falls nearly 3%; profit attributable to shareholders for the first three quarters decreases 12.93% year-on-year; Citi cites weak outlook for U.S. hog prices.

WH GROUP (00288) fell nearly 3%, down 2.44% as of press time to HK$6.21, with turnover of HK$86.1301 million. On the news front, WH GROUP recently released its results for the nine months ended September 30, 2026 (results before biological fair value adjustments). The group recorded revenue of US$20.61 billion for the period, up 0.65% year-on-year; profit attributable to owners of the company was US$1.017 billion, down 12.93% year-on-year. In the first three quarters, the company's controlled subsidiary Smithfield Foods, Inc. (Smithfield) recorded revenue of US$10.937 billion for the nine months ended September 27, 2026, down 3.2% year-on-year; net profit attributable to Smithfield was US$574 million, down 13% year-on-year. Citi said WH GROUP's third-quarter operating profit fell 30% year-on-year, in line with the bank's expectations, with performance in all regions weaker as expected. Management lowered its 2026 operating profit guidance for the U.S., and the fourth-quarter outlook for the U.S. business is worse than the bank's prior view, which was already below market expectations. The weak outlook for U.S. hog prices, together with a possible rebound in China's hog prices in 2027, both weigh on the businesses in the two regions. The bank noted that management reiterated its policy of maintaining a moderately high dividend payout, but the specific payout ratio for Shuanghui remains to be determined.