Smithfield Foods $SFD, the largest pork producer in the United States, reported stronger-than-expected first-quarter sales and earnings as its pork segment showed signs of recovery after last year’s slump in operating profits. The Virginia-based company, owned by China's WH Group, has been actively restructuring its operations to combat ongoing pressures from an oversupplied U.S. pork market and persistently low commodity prices.

Smithfield Foods, the largest pork producer in the United States, recently underwent its initial public offering (IPO). Following the debut, the company's valuation settled at $7.7 billion as its shares dipped by 3.2% on Tuesday. This cautious market reaction highlights the increased hesitancy among investors toward new listings.