Hormel Foods Corp Announces Decline In Q1 Bottom Line
(RTTNews) – Hormel Foods Corp (HRL) reported a profit for first quarter that declined from last year.
The company’s profit totaled $222.28 million, or $0.41 per share. This compares with $242.87 million, or $0.45 per share, in last year’s first quarter.
Analysts had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 3.4% to $2.46 billion from $2.38 billion last year.
Hormel Foods Corp earnings at a glance:
-Earnings (Q1): $222.28 Mln. vs. $242.87 Mln. last year.
-EPS (Q1): $0.41 vs. $0.45 last year.
-Analysts Estimate: $0.41 -Revenue (Q1): $2.46 Bln vs. $2.38 Bln last year.
Full year EPS guidance: $1.70 – $1.82
Full year revenue guidance: $9.70 – $10.30 Bln