Aug 12 (Reuters) - Smithfield Foods ( SFD ) posted a
rise in second-quarter sales and profit on Tuesday, helped by
resilient demand for its packaged meats, including bacon, and
fresh pork business.
Consumers grappling with rising costs of living and tariff
volatilities have increasingly opted to cook meals at home over
dining out, aiding the business of meat packers such as
Smithfield and Tyson Foods ( TSN ).
The Virginia-based company sells its pork, ham and sausages
under brands, including Smithfield, priced between $5 and $17 at
Walmart. It also sells products under brands Eckrich and
Nathan's Famous.
Its sales rose 11% to $3.79 billion during the quarter. It
posted adjusted profit of 55 cents per share, compared with 51
cents a year ago.
The U.S. pork processor also raised its annual operating
profit forecast, betting on the benefits from its cost-savings
measures, including workforce reduction and trimming down
certain hog production business in the past quarters.
Smithfield Foods ( SFD ) expects 2025 adjusted operating profit to
be between $1.15 billion and $1.35 billion, compared with its
prior range of $1.10 billion to $1.30 billion.