(Tables follow)

SMITHFIELD FOODS, INC. AND SUBSIDIARIES
SALES AND OPERATING PROFIT BY SEGMENT
(in millions)
                 
  Three Months Ended Twelve Months Ended
  April 28, 2013 April 29, 2012 April 28, 2013 April 29, 2012
Sales:                
Pork                
Fresh Pork  $ 1,180.6    $ 1,239.6    $ 4,924.1    $ 5,089.4  
Packaged Meats  1,571.9    1,488.6    6,152.0    6,003.6  
Total Pork   2,752.5    2,728.2    11,076.1    11,093.0  
Hog Production   834.4    755.7    3,135.1    3,052.6  
International   370.0    340.2    1,468.5    1,466.7  
Total segment sales  3,956.9    3,824.1    15,679.7    15,612.3  
Intersegment   (636.2)    (614.9)    (2,458.6)    (2,518.0)  
Consolidated  $ 3,320.7    $ 3,209.2    $ 13,221.1    $ 13,094.3  
                 
Operating profit and margin %:                
Pork                
Fresh Pork  $ 24.9  2%  $ 11.9  1%  $ 161.6  3%  $ 222.0  4%
Packaged Meats  113.9  7%  108.0  7%  470.0  8%  401.7  7%
Total Pork   138.8  5%  119.9  4%  631.6  6%  623.7  6%
Hog Production   (45.1)  (5)%  39.1  5%  (119.1)  (4)%  166.1  5%
International   7.8  2%  19.3  6%  108.2  7%  42.8  3%
Corporate   (28.6)    (24.1)    (101.4)    (110.0)  
Consolidated  $ 72.9  2%  $ 154.2  5%  $ 519.3  4%  $ 722.6  6%
 
 
SMITHFIELD FOODS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
 (In millions, except per share data) 
         
  Three Months Ended Twelve Months Ended
  April 28, 2013 April 29, 2012 April 28, 2013 April 29, 2012
  (unaudited) (unaudited)
Sales   $ 3,320.7  $ 3,209.2  $ 13,221.1  $ 13,094.3
Cost of sales  3,039.3  2,866.3  11,901.4  11,544.9
Gross profit   281.4  342.9  1,319.7  1,549.4
Selling, general and administrative expenses  209.7  190.1  815.4  816.9
(Income) loss from equity method investments  (1.2)  (1.4)  (15.0)  9.9
Operating profit  72.9  154.2  519.3  722.6
Interest expense   44.1  42.1  168.7  176.7
Loss on debt extinguishment  --   --   120.7  12.2
Income before income taxes   28.8  112.1  229.9  533.7
Income tax expense  (0.9)  32.6  46.1  172.4
Net income  $ 29.7  $ 79.5  $ 183.8  $ 361.3
         
         
Net income per share:        
Basic  $ .21  $ .50  $ 1.26  $ 2.23
Diluted  $ .21  $ .49  $ 1.26  $ 2.21
         
Weighted average shares outstanding:        
Basic  138.8  160.1  145.5  162.3
Effect of dilutive shares  2.7  1.1  0.9  1.2
 Diluted  141.5  161.2  146.4  163.5
 
 
SMITHFIELD FOODS, INC. AND SUBSIDIARIES
SCHEDULE OF (INCOME) LOSS FROM EQUITY METHOD INVESTMENTS
(In millions)
           
    Three Months Ended Twelve Months Ended
Equity Investment Segment April 28, 2013 April 29, 2012 April 28, 2013 April 29, 2012
    (unaudited) (unaudited)
Mexican joint ventures International  $ (3.2)  $ (2.1)  $ (9.3)  $ (13.4)
Campofrio Food Group (CFG) (1) International 2.4 1.0 (4.8) 25.0
All other equity method investments Various  (0.4)  (0.3)  (0.9)  (1.7)
(Income) loss from equity method investments    $ (1.2)  $ (1.4)  $ (15.0)  $ 9.9
           
(1) Third quarter of fiscal 2012 includes $38.7 million of charges related to CFG's consolidation plan. CFG prepares its financial statements in accordance with International Financial Reporting Standards. Our share of CFG's results reflects U.S. GAAP adjustments. There may be differences between what we report for CFG and what CFG reports.
 
 
SMITHFIELD FOODS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
         
  Twelve Months
  April 28,   2013 April 29,   2012 April 28,   2013 April 29,   2012
(in millions, except EPS) Operating Profit EPS
Reported GAAP measure  $ 519.3  $ 722.6  $ 1.26  $ 2.21
Add back of significant items:        
Missouri litigation  --   22.2  --   .08
HP cost savings/other disposal costs  --   13.1  --   .05
Early extinguishment of debt  120.7  --   .54  .05
Campofrio charges  --   45.1  --   .20
Adjusted non-GAAP measure  $ 640.0  $ 803.0  $ 1.80  $ 2.59
CONTACT: Keira Lombardo         Smithfield Foods, Inc.         (757) 365-3050         keiralombardo@smithfieldfoods.com

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