Smithfield officials iterated the company’s push into packaged meats, restructuring of operations, reduction of debt and increase in marketing.
“We think we have a competitive cost structure in all of the operating segments of this business,” said C. Larry Pope, the company’s president and CEO. “We think we have a very conservative balance sheet today.” Pope predicted the company’s stock price, which has hovered above $20 a share, would shoot up “like a rocket ship.”
Executives pointed to Smithfield’s reach in the US and worldwide. They added it’s No. 1 in U.S. market share for smoked hams and pork and No. 2 for bacon and deli meats. New products include Eckrich Angus Beef Smoked Sausage and Armour Cheese Pepperoni.