SFD FY 2014 Earnings Report — Smithfield Foods, Inc. Revenue & Financial Results | Market Cap Arena

Smithfield Foods, Inc.SFD

FY 2014 Earnings

Reported March 25, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$15.0B	—	—	—	—
Op. Income	$932M	—	—	—	—
Gross Margin	11.8%	—	—	—	—
Net Margin	3.7%	—	—	—	—
EPS (Diluted)	$1.46	—	—	—	—
Free Cash Flow	$512M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$15.0B
Cost of Revenue	$13.3B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$902M
Other Expenses	-$58M
Operating Expenses	$844M
Cost & Expenses	$14.1B
OPERATING INCOME	$932M
Interest Income	$0
Interest Expense	$159M
Other Income/Expenses	-$159M
INCOME BEFORE TAX	$773M
Income Tax Expense	$217M
Net Income from Continuing Ops	$556M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$556M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$556M
D&A	$231M
EBIT	$933M
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$15.0B
Cost of Revenue	$13.3B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$902M
Other Expenses	-$58M
Operating Expenses	$844M
Cost & Expenses	$14.1B
OPERATING INCOME	$932M
Interest Income	$0
Interest Expense	$159M
Other Income/Expenses	-$159M
INCOME BEFORE TAX	$773M
Income Tax Expense	$217M
Net Income from Continuing Ops	$556M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$556M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$556M
D&A	$231M
EBIT	$933M
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$556M
Depreciation & Amortization	$231M
Stock-Based Compensation	$0
Deferred Income Tax	$62M
Other Non-Cash Items	-$175M
Change in Working Capital	$139M
OPERATING CASH FLOW	$813M
Capital Expenditure	-$301M
Acquisitions (Net)	-$11M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$21M
NET CASH FROM INVESTING	-$292M
Net Debt Issuance	$74M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$360M
NET CASH FROM FINANCING	-$286M
FREE CASH FLOW	$512M
Net Change in Cash	$240M

Balance Sheet

Item	Amount
Cash & Equivalents	$434M
Short-Term Investments	$0
Net Receivables	$864M
Inventory	$2.2B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$2.8B
Goodwill	$1.6B
Intangible Assets	$1.4B
Long-Term Investments	$498M
Tax Assets	$0
Other Non-Current Assets	$124M
TOTAL NON-CURRENT ASSETS	$6.4B
TOTAL ASSETS	$10.1B
Account Payables	$675M
Short-Term Debt	$48M
Deferred Revenue	$0
Other Current Liabilities	$440M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$2.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$698M
Other Non-Current Liabilities	$697M
TOTAL NON-CURRENT LIABILITIES	$4.1B
TOTAL LIABILITIES	$5.5B
Common Stock	$0
Additional Paid-In Capital	$4.2B
Retained Earnings	$591M
Treasury Stock	$0
Accum. Other Comp. Income	-$219M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$51M
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$10.1B
Total Debt	$2.7B
Net Debt	$2.3B