Smithfield Foods rises after third-quarter revenue and profit jump

Shares of U.S. pork processor Smithfield Foods SFD.O up ~7% at $23 premarket

Co posts a jump in third-quarter revenue and profit owing to strong demand for its higher-priced products

SFD's quarterly sales rise 12.4% to $3.75 billion from a year ago

Logs adjusted profit of 58 cents per share vs 53 cents per share from a year earlier

Raises midpoint of adjusted operating profit in the range of $1.23 billion to $1.33 billion, compared to its prior forecast between $1.15 billion and $1.35 billion

Maintains 2025 sales forecast of a low-to-mid-single-digit percentage rise from a year earlier

Co went public in January and is an indirect majority-owned subsidiary of Hong Kong-based WH Group 0288.HK