Hormel: Fiscal 3rd quarter earnings snapshot

AUSTIN, Minn. — Hormel Foods Corp. today reported fiscal third-quarter earnings of $203.1 million.

On a per-share basis, the company said it had profit of 37 cents.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $2.38 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.29 billion.

Hormel shares have increased 17% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6%. The stock has risen 23% in the past 12 months.

Comments are closed.