Houston Chronicle
SMITHFIELD, Va. - Meat processor Smithfield Foods Inc. said Thursday it returned to a profit in its fiscal third quarter, partly on continued strength in its packaged meats business as sales grew overseas.
Smithfield, like many meat companies, has been gradually recovering from a mix of high feed prices, low demand and industry consolidation.
Earnings were $37.3 million, or 22 cents per share, for the period ended Jan. 31. That compares with a loss of $105.7 million, or 74 cents per share, in the same quarter a year ago.
