Source: Tom Johnston, MEATINGPLACE, 12/9/13


Smithfield Foods Inc. said Friday it lost $4.2 million in the company’s second fiscal quarter ended Oct. 27 on decreased operating profit in its pork segment and costs associated with its merger with China’s Shuanghui International Holdings, according to documents filed with the Securities and Exchange Commission.

The $4.2 loss — the balance of a $16.6 million net loss of the period after Shuanghui acquired Smithfield in September and net income of $12.4 million for the period before the merger — compared with net income of $10.9 million in the year-earlier period.

Weighing on results were $123.8 million decrease in pork segment operating profit, largely on an increase in live hog prices, and $52 million in costs as a result of the merger.

Sales in the quarter rose to $3.4 billion from $3.2 billion a year ago.

After the merger with Shuanghui, Smithfield went private and was taken off the New York Stock Exchange. The company, however, said it would continue to release earnings reports.

Smithfield has scheduled a conference call for Dec. 23 to discuss the results.

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