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Smithfield Foods Inc. (NYSE:SFD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.47%.
Smithfield Foods Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 15.94% to $0.58 in the quarter versus EPS of $0.69 in the year-earlier quarter.
Revenue: Rose 3.02% to $3.58 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Smithfield Foods Inc. reported adjusted EPS income of $0.58 per share. By that measure, the company beat the mean analyst estimate of $0.51. It beat the average revenue estimate of $3.53 billion.
Quoting Management: “Our Smithfield bacon, Eckrich dinner sausage and Armour dry sausage all achieved double-digit growth. We gained market share in the bacon, dinner sausage, dry sausage and ham steak categories. We were also very successful in broadening distribution of our core brands in a number of key product categories including bacon, dinner sausage, deli meats, dry sausage and ham steaks,” said C. Larry Pope, president and chief executive officer.
Key Stats (on next page)…
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