Smithfield Foods gains on annual sales, profit forecasts

Shares of pork processor Smithfield Foods SFD.O up 2.3% at $20.05 premarket

Co forecasts growth in annual sales and adjusted operating profit, helped by strong demand for packaged meats at grocery stores and benefits from its cost-cutting measures

Expects fiscal 2025 adjusted operating profit to be between $1.10 billion and $1.30 billion, above $1.12 billion it reported for 2024

Expects total annual net sales to rise in the low- to mid-single-digit percentage range, compared with a 3.4% fall reported in fiscal 2024

Shares have fallen about 5% since co went public on Jan. 28