Smithfield Foods beat quarterly results estimates on resilient demand for pork - BNN Bloomberg

Smithfield Foods beat analysts’ estimates for fourth-quarter sales and profit on Tuesday, helped by resilient demand for packaged meats and cost-saving efforts, lifting the U.S. pork processor’s shares nearly four per cent higher in premarket trading. More U.S. consumers are opting to cook at home than dine out as they tighten their budgets amid persistently high cost of living, driving sales for companies such as Smithfield. Demand surged during the holiday season as shoppers turned to protein-rich staples like pork and processed meats for festive meals, helping lift volumes despite broader…