Smithfield Foods Inc. reported strong fiscal 2013 third quarter results, driven by growth in packaged meats and solid contributions from international operations, as the company continued to execute its plan to transform into a more value-added consumer packaged meats company.
Smithfield achieved volume growth in nine of its twelve core brands in the third quarter. Specifically, its Smithfield, Eckrich, Farmland and Margherita brands were up double-digits. "Our Smithfield bacon, Eckrich dinner sausage and Armour dry sausage all achieved double-digit growth. We gained market share in the bacon, dinner sausage, dry sausage and ham steak categories. We were also very successful in broadening distribution of our core brands in a number of key product categories including bacon, dinner sausage, deli meats, dry sausage and ham steaks," said C. Larry Pope, president and CEO.