Hormel: Fiscal Q2 Earnings Snapshot

AUSTIN, Minn. (AP) — AUSTIN, Minn. (AP) — Hormel Foods Corp. (HRL) on Thursday reported fiscal second-quarter profit of $189.3 million.

On a per-share basis, the Austin, Minnesota-based company said it had net income of 34 cents. Earnings, adjusted for non-recurring costs, were 38 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $2.89 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.99 billion.

Hormel expects full-year earnings in the range of $1.55 to $1.65 per share.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HRL at https://www.zacks.com/ap/HRL