Smithfield Foods posts higher sales, profit on strong packaged meats, pork demand

Reuters

Tue, Apr 29, 2025, 2:48 AM 2 min read

(Reuters) - U.S. pork processor Smithfield Foods connected Tuesday posted higher first-quarter income and profit, helped by beardown request for its packaged meats and pork businesses and cost-control efforts.

The Virginia-based institution has been focusing connected its high-margin packaged meats business. It sells pork, ham and sausages nether brands including Smithfield, Eckrich and Nathan's Famous.

Packaged nutrient income roseate 1.2% successful the 4th ended March 30 from a twelvemonth earlier. It is simply a large gross generating conception for Smithfield. Fresh pork income accrued 4.9%.

Smithfield, which went nationalist successful January, warned past period that cautious user spending and higher earthy worldly costs were crimping nett successful its packaged meats business.

The segment's operating nett declined 7% to $266 million, portion nett successful its pork concern slumped 25.7% to $82 cardinal successful the reported quarter.

Smithfield has kept a choky lid connected its expenses done workforce simplification and exiting definite workplace operations to trim its hog accumulation concern astatine a clip of higher input costs.

Its quarterly adjusted operating borderline was 8.6%, up from 5.1% successful the archetypal 4th of 2024.

Smithfield posted a 9.5% emergence successful full income to $3.77 cardinal successful the quarter. It earned 58 cents per stock successful adjusted nett from continuing operations, compared with 32 cents a twelvemonth earlier.

The institution reaffirmed its yearly income forecast successful the low-to-mid-single-digit percent scope compared to past year, and packaged meats adjusted operating nett of betwixt $1.05 cardinal and $1.15 billion.

Tyson Foods, a rival U.S. meatpacker that sells pork, chickenhearted and beef, is acceptable to study quarterly net connected May 5.

(Reporting by Savyata Mishra successful Bengaluru and Tom Polansek successful Chicago; Editing by Shinjini Ganguli)