UPDATE: Smithfield Posts Lower Q1 Profit
Smithfield Foods (NYSE: SFD) reported a drop in its first-quarter profit.
Smithfield's quarterly profit dropped to $39.5 million, from $61.7 million, in the year-earlier period. Its earnings per share fell to $0.27 from $0.40.
Its revenue climbed to $3.4 billion from $3.1 billion. Analysts were expecting a profit of $0.47 per share.
Smithfield shares fell 0.24% to $33.88 in pre-market trading.
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