Smithfield Q3 earning results released
For the nine months, the company announced sales of USD 10,337.5 mill. (2015: USD 10,509.2 mill. and an operating profit of USD 693.5 mill. compared to USD 528 mill. in September 2015. Income before income taxes rose up to USD 596.7 mill. (2015: USD 417.4 mil. Net income performance reached USD 402.6 mill. compared to USD 284.5 mill. a year ago.
One of the best selling products were packeaged meats which had an operating profit for the third quarter by USD 136.8 mill. as result of higher and selling prices and volumes. Sales in the segment were USD 1,682.9 Mill. compared to UDS 1,630.6 mill reported in the third quarter 2015.
Also fresh pork operating profit increased by USD 62.6 mill. to USD 76.7 mill., sales were USD 1,286.2 mill. (2015: USD 1,210.8 mill.).