Smithfield Foods reports the outbreak led to a $72 million dollar operating loss in its second quarter.
The company logged an operating profit of $102 million dollars, down 54 percent from year ago quarterly figures. Expenses related to COVID-19 totaled $350 million dollars during the second quarter. The figures include $195 million in people-related costs, $125 million dollars for facilities, and $30 million in community-related costs.
According to CEO Kenneth Sullivan, “Going forward, we expect performance to rebound in the fall, as our COVID-19 related costs, some of which were one-time or short-term in natures, are declining.”
Regarding Smithfield’s response to the pandemic, a human rights group has given the company high marks for steps taken to prevent the spread of COVID.
Domingo García with the League of United Latin American Citizens tells that Brownfield Ag News a tour of a North Carolina locations shows improvements in protecting workers. The organization is pushing other processors to follow suit with similar improvements.