Smithfield Foods (SFD) Swings To 3rd Quarter Profit

Smithfield Foods, Inc. (NYSE: SFD) reported on Thursday morning that it had swung to a 3rd quarter profit of $37.3 million, or 22 cents per share, from a loss of $105.7 million, or 74 cents per share, a year earlier.

The meat producer's adjusted net income for the 3rd quarter was also 22 cents per share.

Smithfield Foods' sales fell to $2.88 billion from $3.35 billion a year earlier.

According to poll by FactSet Research, Wall Street analysts expected earnings of 19 cents per share on revenue of $3.2 billion.