Smithfield Foods Inc. (NYSE:SFD) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Smithfield Foods Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 51.16% to $0.21 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 3.48% to $3.32 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Smithfield Foods Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company missed the mean analyst estimate of $0.43. It beat the average revenue estimate of $3.27 billion.
Quoting Management: “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.
Key Stats (on next page)…
Revenue decreased 7.32% from $3.58 billion in the previous quarter. EPS decreased 63.79% from $0.58 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.46 to a profit $0.45. For the current year, the average estimate has moved down from a profit of $2.05 to a profit of $2 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)