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Smithfield Foods Inc. (NYSE:SFD) reported its results for the third quarter. Net income for Smithfield Foods Inc. fell to $79 million (49 cents per share) vs. $202.6 million ($1.21 per share) a year earlier. This is a decline of 61% from the year-earlier quarter. Revenue rose 9.2% to $3.48 billion from the year-earlier quarter. Smithfield Foods Inc. reported adjusted net income of 69 cents per share. By that measure, the company beat the mean estimate of 67 cents per share. Analysts were expecting revenue of $3.5 billion.
“I am very pleased to report another quarter of strong profitability and, in particular, the progress we have made in improving the quality and consistency of our earnings. Notably, our year to date adjusted earnings closely tracked last year’s record results,” said C. Larry Pope, president and chief executive officer.
Competitors to Watch: Hormel Foods Corporation (NYSE:HRL), Tyson Foods, Inc. (NYSE:TSN), ZHONGPIN INC. (NASDAQ:HOGS), Pilgrim’s Pride Corp. (NYSE:PPC), ConAgra (NYSE:CAG), RalCorp Holdings (RAL), General Mills (NYSE:GIS), Kraft (NYSE:KFT), H.J. Heinz (NYSE:HNZ) and Seaboard Corporation (AMEX:SEB).
Jones Soda Co. (NASDAQ:JSDA) reported its results for the fourth quarter. Loss widened to $2 million (6 cents per diluted share) from $1.8 million (loss of 6 cents per share) in the same quarter a year earlier. Revenue rose 9% to $3.4 million from the year-earlier quarter.
“The past year was a very busy and productive period for Jones Soda,” commented William Meissner, Jones Soda Chief Executive Officer. “Our strategy of shedding underperforming product lines and brand extensions, and exiting expensive, unproductive sponsorship agreements, has allowed us to reposition our resources behind growing our core business. The initial results from our efforts can be witnessed in the performance of our Jones Soda and WhoopAss Energy Drink, which combined, generated sales gains of 13% and 10% in the fourth quarter and full year, respectively.”
Competitors to Watch: National Beverage Corp. (NASDAQ:FIZZ), Hansen Natural Corporation (NASDAQ:HANS), Dr Pepper Snapple Group Inc. (NYSE:DPS), Reed’s, Inc. (NASDAQ:REED), PepsiCo, Inc. (NYSE:PEP), The Coca-Cola Company (NYSE:KO), Celsius Holdings, Inc. (NASDAQ:CELH), Coca-Cola Enterprises Inc. (NYSE:CCE), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), and Cott Corporation (NYSE:COT).
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To contact the editor responsible for this story: Damien Hoffman at email@example.com
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