AUSTIN, Minn. — Hormel Foods Corp. today reported fiscal second-quarter profit of $261.6 million.
The company said it had net income of 48 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $3.1 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $3.03 billion.
Hormel expects full-year earnings to be $1.87 to $1.97 per share, with revenue in the range of $11.7 billion to $12.5 billion.