Smithfield estimates fourth-quarter income
May 30, 2007
by FoodBusinessNews.net Staff
SMITHFIELD, VA. — Smithfield Foods, Inc. said it expects fourth-quarter income from continuing operations to range from 30c to 35c per diluted share. The final results will be announced on June 7.
The results reflect higher raising costs in hog production operations and losses in the cattle feeding business.
During the fourth quarter, Smithfield had strong earnings in the pork segment and improved packaged meats margins. International operations showed more profitability compared with a loss last year.