Smithfield Foods Inc. (NYSE:SFD) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Smithfield Foods Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 51.16% to $0.21 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 3.48% to $3.32 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Smithfield Foods Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company missed the mean analyst estimate of $0.43. It beat the average revenue estimate of $3.27 billion.
Quoting Management: “Driven by both top and bottom line growth in packaged meats, these earnings reflect our continued transformation into a more value-added consumer packaged meats company. For the full year, packaged meats operating profit increased nearly $70 million, or 17%, year over year and volume was up 4%. Our core brand volume grew even more substantially, up 5%,” said C. Larry Pope, president and chief executive officer.
Key Stats (on next page)…