SFD FY 2015 Earnings Report — Smithfield Foods, Inc. Revenue & Financial Results | Market Cap Arena

Smithfield Foods, Inc.SFD

FY 2015 Earnings

Reported March 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$14.4B	—	$15.0B	—	-3.9%
Op. Income	$794M	—	$932M	—	-14.8%
Gross Margin	12.2%	—	11.8%	—	0.3pp
Net Margin	3.1%	—	3.7%	—	-0.6pp
EPS (Diluted)	$1.19	—	$1.46	—	-18.5%
Free Cash Flow	$423M	—	$512M	—	-17.4%

Revenue Flow

Item	Amount
REVENUE	$14.4B
Cost of Revenue	$12.7B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$973M
Other Expenses	-$12M
Operating Expenses	$962M
Cost & Expenses	$13.6B
OPERATING INCOME	$794M
Interest Income	$0
Interest Expense	$134M
Other Income/Expenses	-$146M
INCOME BEFORE TAX	$648M
Income Tax Expense	$196M
Net Income from Continuing Ops	$452M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$452M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$452M
D&A	$234M
EBIT	$782M
EBITDA	$1.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$14.4B
Cost of Revenue	$12.7B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$973M
Other Expenses	-$12M
Operating Expenses	$962M
Cost & Expenses	$13.6B
OPERATING INCOME	$794M
Interest Income	$0
Interest Expense	$134M
Other Income/Expenses	-$146M
INCOME BEFORE TAX	$648M
Income Tax Expense	$196M
Net Income from Continuing Ops	$452M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$452M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$452M
D&A	$234M
EBIT	$782M
EBITDA	$1.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$452M
Depreciation & Amortization	$234M
Stock-Based Compensation	$0
Deferred Income Tax	$64M
Other Non-Cash Items	-$196M
Change in Working Capital	$243M
OPERATING CASH FLOW	$798M
Capital Expenditure	-$375M
Acquisitions (Net)	$354M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$54M
NET CASH FROM INVESTING	-$75M
Net Debt Issuance	-$127M
Common Stock Repurchased	$0
Common Dividends Paid	-$30M
Other Financing Activities	-$290M
NET CASH FROM FINANCING	-$447M
FREE CASH FLOW	$423M
Net Change in Cash	$271M

Balance Sheet

Item	Amount
Cash & Equivalents	$705M
Short-Term Investments	$0
Net Receivables	$760M
Inventory	$2.1B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$2.9B
Goodwill	$1.6B
Intangible Assets	$1.4B
Long-Term Investments	$143M
Tax Assets	$0
Other Non-Current Assets	$158M
TOTAL NON-CURRENT ASSETS	$6.2B
TOTAL ASSETS	$9.9B
Account Payables	$686M
Short-Term Debt	$30M
Deferred Revenue	$0
Other Current Liabilities	$524M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$668M
Other Non-Current Liabilities	$548M
TOTAL NON-CURRENT LIABILITIES	$3.5B
TOTAL LIABILITIES	$5.0B
Common Stock	$0
Additional Paid-In Capital	$4.2B
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$378M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$54M
TOTAL EQUITY	$4.9B
TOTAL LIABILITIES & EQUITY	$9.9B
Total Debt	$2.3B
Net Debt	$1.6B