April 28 (Reuters) - Smithfield Foods ( SFD ) beat Wall

Street estimates for first-quarter sales and profit on Tuesday

and stuck to its annual forecasts, helped by steady demand for

packaged meat products such as bacon, ham, sausages and hot

dogs.

U.S. meat demand has held up in recent months as consumers

look to cut food bills and cook more meals at home.

The company has relied on its broad portfolio, including

premium brands and private-label packaged meats, to retain

budget-conscious shoppers trading down, while growth in

higher-margin, value-added packaged meats has helped support

profits.

Private-label products accounted for roughly 40% of

Smithfield's retail sales in the last fiscal year, its

executives said in March.

Beef costs have remained elevated due to tight cattle

supplies, prompting companies such as Smithfield Foods ( SFD ) to raise

prices to protect margins.

Sales in Smithfield's packaged meats segment rose 6.2%

during the quarter from last year, offsetting a 1.1% slip in the

fresh pork business.

The largest U.S. pork processor, which makes packaged meats

and fresh pork products for retail and foodservice customers,

maintained its annual forecasts as consumer-facing companies

remain wary of renewed inflation concerns linked to higher

energy prices.

"We are actively managing inflationary input costs and

consumer spending trends," CEO Shane Smith said.

It expects fiscal 2026 sales to grow in the

low-single-digits range from fiscal year 2025 and adjusted

operating profit between $1.33 billion and $1.48 billion.

The company has been able to lower feed costs and scale down

hog production, which have also helped cushion the impact of

cautious consumer spending.

For the three months ended March 29, Smithfield logged sales

of $3.80 billion, beating analysts' average estimates of $3.70

billion, according to data compiled by LSEG.

It earned 64 cents per share on an adjusted basis, above

estimates of 59 cents.