WASHINGTON (dpa-AFX) - Smithfield Foods, Inc. (SFD) reported third-quarter net income of $79 million or $0.49 per share, lower than $202.6 million or $1.21 per share reported a year ago. Adjusted earnings per share decreased to $0.69 per share from $0.84 per share in the same quarter a year earlier.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the three-month period rose to $3.48 billion from $3.19 billion in the prior year, resulting from higher average unit selling prices and volumes in the Pork segment. Analysts anticipated revenues of $3.5 billion for the quarter.
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