Smithfield Foods, Inc. First Quarter Earnings Sneak Peek

Smithfield Foods, Inc. (NYSE:SFD) will unveil its latest earnings on Thursday, September 8, 2011. Smithfield Foods, Inc. is a hog producer and pork processor, which produces and markets a number of fresh meat and packaged meats products both domestically and internationally.

Smithfield Foods, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 68 cents per share, a rise of 47.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 67 cents. Between one and three months ago, the average estimate was unchanged, but has risen during the last month. For the year, analysts are projecting net income of $2.48 per share, a decline of 15.6% from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of 85 cents per share versus a mean estimate of net income of 82 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $3.15 billion in revenue this quarter, a rise of 8.6% from the year ago quarter. Analysts are forecasting total revenue of $13.08 billion for the year, a rise of 7.2% from last year’s revenue of $12.2 billion.

Analyst Ratings: Analysts seem relatively indifferent about Smithfield with eight of 15 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 7.1% to $3.12 billion in fourth quarter of the last fiscal year. The figure rose 10.5% in the third quarter of the last fiscal year from the year earlier, climbed 11.4% in the second quarter of the last fiscal year from the year-ago quarter and 6.9% in the first quarter of the last fiscal year.

Competitors to Watch: Hormel Foods Corporation (NYSE:HRL), Tyson Foods, Inc. (NYSE:TSN), ZHONGPIN INC. (NASDAQ:HOGS), Pilgrim’s Pride Corp. (NYSE:PPC), Seaboard Corporation (AMEX:SEB), ConAgra (NYSE:CAG) and Monsanto (NYSE:MON).

Stock Price Performance: During June 9, 2011 to September 2, 2011, the stock price had risen $1.68 (8.7%) from $19.30 to $20.98. The stock price saw one of its best stretches over the last year between January 7, 2011 and January 18, 2011 when shares rose for seven-straight days, rising 5.8% (+$1.13) over that span. It saw one of its worst periods between April 27, 2011 and May 11, 2011 when shares fell for 11-straight days, falling 14.8% (-$3.54) over that span. Shares are up 35 cents (+1.7%) year to date.

(Source: Xignite Financials)

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