Hormel: Fiscal Q3 Earnings Snapshot

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AUSTIN, Minn. (AP) — AUSTIN, Minn. (AP) — Hormel Foods Corp. (HRL) on Thursday reported fiscal third-quarter profit of $162.7 million.

On a per-share basis, the Austin, Minnesota-based company said it had net income of 30 cents. Earnings, adjusted for non-recurring costs, came to 40 cents per share.

The results missed 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 $2.96 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $3.11 billion.

For the current quarter ending in October, Hormel said it expects revenue in the range of $3.1 billion to $3.6 billion.


The company expects full-year earnings in the range of $1.61 to $1.67 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