Smithfield Foods, Inc. reports results for the quarter ended September 30 - Earnings Summary

• Smithfield Foods, Inc. reported quarterly adjusted earnings of 26 cents​​ per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of 58 cents. The mean expectation of six analysts for the quarter was for earnings of 33 cents per share. Wall Street expected results to range from 25 cents to 71 cents per share.

• Revenue fell 8.3% to $3.44 billion from a year ago; analysts expected $3.65 billion.

• Smithfield Foods, Inc.'s reported EPS for the quarter was 23 cents​.

• The company reported quarterly net income of $89 million.

• Smithfield Foods, Inc. shares had fallen by 2.2% this quarter and lost 18.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 47.5% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the food processing peer group is also "buy"

• Wall Street's median 12-month price target for Smithfield Foods, Inc. is $23.00, about 20.3% above its last closing price of $18.33

This summary was machine generated from LSEG data October 27 at 11:16 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)