USA: Smithfield Foods earnings to exceed expectations in fourth quarter; board votes to increase shares in anticipation of stock split; company to acquire beef processor Moyer Packing
Smithfield Foods, Inc. (NYSE: SFD) announced yesterday that earnings in the fourth quarter of fiscal 2001, which will end April 29, are expected to exceed $.85 per share, prior to unusual items, which is well above investor expectations. The company reported earnings of $.51 per share in the fourth quarter last year. In the fourth quarter the company will record unusual gains of about five cents per share on the sale of a processing plant in Canada and about three cents per share on the sale of IBP, inc. stock.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Burger King, Jollibee: foodservice focus, Nov 2016
- Have food promotions reached tipping point?
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund