This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smithfield Foods Reports Fourth Quarter And Full Year Results

Fourth Quarter Highlights
  • Net income was $29.7 million
  • EPS was $.21
  • Sales of $3.3 billion, up 3%
  • Total Pork operating profit up 16% and sales up 1%
  • Fresh Pork operating profit up 109% and sales down 5%
  • Packaged Meats operating profit up 5% and sales up 6%

Full Year Highlights
  • Net income was $183.8 million
  • EPS was $1.26
  • Adjusted EPS was $1.80
  • Sales of $13.2 billion, up 1%
  • Total Pork operating profit second best in company history up 1% and sales in line with prior year
  • Fresh Pork operating profit down 27% and sales down 3%
  • Packaged Meats operating profit up 17% and sales up 2%
  • International operating profit up 153% and sales in line with prior year
  • Reduced interest expense 5%
  • Repurchased 19.1 million shares for $386 million

SMITHFIELD, Va., June 14, 2013 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (NYSE:SFD) today reported fiscal 2013 fourth quarter and full year results, with its Pork segment delivering its second best year in company history. All comparisons are to the fourth quarter and full fiscal year 2012.

"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.

Smithfield continued to deliver consistent growth in its packaged meats business in fiscal 2013, with increased volume and market share and broader distribution of its core brands. Packaged meats sales dollars and volume grew across all trade channels and in eight of the company's 12 core brands. "Double-digit gains were realized for Smithfield bacon, Armour dry sausage, and Smithfield and Farmland marinated pork. In the deli channel, our Eckrich deli meats also finished the year up double-digits," Mr. Pope commented.

Market share improved in bacon, cooked dinner sausage, dry sausage and marinated pork. In addition, the company broadened distribution of its core brands in a number of key product categories, including cooked dinner sausage, deli meats, dry sausage, marinated pork, packaged lunchmeat and portable lunches.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs