Hormel: Fiscal Q3 Earnings Snapshot
AUSTIN, Minn. (AP) - Hormel Foods Corp. (HRL) on Thursday reported fiscal third-quarter profit of $218.9 million.
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The Austin, Minnesota-based company said it had net income of 40 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $3.03 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.07 billion.
Hormel expects full-year earnings to be $1.78 to $1.85 per share, with revenue in the range of $12.2 billion to $12.8 billion.
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