Smithfield Foods recorded its first profitable year since 2008, and posted record fourth-quarter profits as the world’s largest hog producer was able to command higher prices. It also plans a $150 million stock buyback. Net income was $98.4 million, or 59 cents per share, vs. a net loss of $4.6 million, or 3 cents, a year earlier. Adjusted earnings were 85 cents per share, beating the 82 cents expected by analysts.
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