Smithfield: Q3 earning results released

Q3 earning results released

Smithfield Foods

USA, Smithfield,Virginia. Smithfield Foods, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016.

For the quarter, the company announced sales of USD 3,538.6 mill. compared to USD 3,406.1 mill. a year ago, operating profit was USD 246.3 mill. compared to USD 153.7 mill. Income before income taxes was USD 214.3 mill. compared to USD 121.4 mill., and net income was USD 143.8 mill.

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.).

Source: Smithfield


With our free newsletters, we can provide you with the most important industry news and useful practical tips from Germany and around the world.