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SMITHFIELD FOODS INC FILES (8-K) Disclosing Results of Operations and Financial Condition

June 12, 2014



Item 2.02 Results of Operations and Financial Condition.

On June 12, 2014, Kenneth M. Sullivan, Chief Financial Officer, of Smithfield Foods, Inc. (the "Company"), will participate in the Morgan Stanley Leveraged Finance Conference in New Orleans, Louisiana. The slides to be used at the conference are furnished herewith as Exhibit 99.1 and are incorporated by reference herein. The presentation contains certain non-GAAP financial information about the Registrant. The Registrant has reconciled the non-GAAP financial measures to the GAAP financial measures, which are contained within the presentation. The non-GAAP financial measures in the presentation use financial measures computed in accordance with GAAP as starting points. The GAAP measures are adjusted by the impact of certain significant items to arrive at the non-GAAP financial measures. Management believes that these non-GAAP financial measures reflect an additional way of viewing aspects of our business that, when viewed together with our financial results computed in accordance with GAAP, provide a more complete understanding of factors and trends affecting our historical financial performance and projected future operating results. This combined view of GAAP and non-GAAP measures also provides greater transparency of underlying profit trends and better comparability of results across periods. Additionally, stakeholders frequently request information from management regarding significant items and management believes, based on feedback it has received during earnings calls and discussions with stakeholders, that these non-GAAP measures enhance stakeholders' ability to assess our historical performance and to project future financial performance. These non-GAAP financial measures are not intended to be substitutes for the comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Management also uses certain non-GAAP financial measures, in conjunction with the GAAP financial measures, to understand, manage and evaluate our businesses and in planning for and forecasting financial results for future periods. Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Slides to be used in the Company's presentation at the Morgan Stanley Leveraged Finance Conference on June 12, 2014. 2



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Source: Edgar Glimpses