Adjusted EPS came in at 43 cents. That disappointed Wall Street which had expected adjusted EPS of 53 cents, Reuters noted.
The company noted that sales for the quarter rose 3% compared to last year, hitting $3.2 billion. That also fell short of analysts’ estimate of $3.26 billion in revenue for the quarter.
Investors were disappointed by the results and hammered Smithfield shares which dropped more than 7% in Thursday afternoon trading.
For the year, Smithfield’s sales rose 7% to $13.1 billion. Earnings for fiscal 2012 came in a $361.3 million, down from $521 million last year.
The company noted that fiscal 2011 had been a record year for company earnings and that fiscal 2012 was the second-best earnings year in company history.
Smithfield also announced that it will repurchase $250 million of its shares over two years.