Updates
** Shares of pork processor Smithfield Foods SFD.O give up premarket gains to trade down 3.2% at $18.97
** Warns of pressure on first-quarter profitability on higher raw material prices, Easter falling later than last year - CFO Mark Hall
** Expects strong hog and meat prices
** Overshadows annual sales and adjusted operating profit growth forecasts, helped by strong demand for packaged meats at grocery stores and cost-cuts
** Expects fiscal 2025 adjusted operating profit to be between $1.10 billion and $1.30 billion, largely above $1.12 billion reported for 2024
** Expects total annual net sales to rise in the low- to mid-single-digit percentage range, compared to a 3.4% fall last year
** Shares down about 5% since market debut on January 28
(Reporting by Juveria Tabassum in Bengaluru)
((Juveria.Tabassum@thomsonreuters.com;))
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