Packaged pork and meat products maker Smithfield Foods, Inc. (SFD) posted a sharp fall in fourth-quarter net income to $29.7 million, or $0.21 a share, from $79.5 million, or $0.49 a share, a year before. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.43 for the quarter. Analysts' estimates typically exclude one-time items. The company said the fourth quarter of fiscal 2012 included a $16.8 million benefit, or $0.06 per share, attributable to insurance reimbursements on the settlement of the company's Missouri litigation.
The firm clocked sales of $3.32 billion for the recent quarter, up 3% from the prior year's $3.21 billion, while 10 analysts estimated revenues of $3.27 billion for the quarter.
Smithfield Foods added, "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.
Looking forward, the company said it would continue to execute its strategic growth plan to improve its earnings stream and migrate Smithfield further towards a consumer packaged meats company.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.