CHICAGO - Smithfield Foods Inc reported a much larger quarterly loss on Tuesday, due to low hog prices, H1N1 flu and soft export demand for pork.
The company reported a fiscal first quarter loss of $107.7 million, or 75 cents per share, for the quarter ended August 2, compared with a year-earlier loss of $13.2 million, or 10 cents per share.
Excluding one-time charges of $41.5 million, or 19 cents per share, to reduce its hog herd and for debt extinguishment, it posted a loss of $80 million, or 56 cents per share.
On that basis, Wall Street on average expected a loss of 53 cents per share, according to Reuters Estimates.
Revenue for the period was $2.72 billion, compared with $3.14 billion a year earlier. (Reporting by Bob Burgdorfer; Editing by Derek Caney)