Hormel: Fiscal Q1 Earnings Snapshot

AUSTIN, Minn. (AP) — AUSTIN, Minn. (AP) — Hormel Foods Corp. (HRL) on Thursday reported fiscal first-quarter earnings of $217.7 million.

The Austin, Minnesota-based company said it had profit 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 45 cents per share.

The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $2.97 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $3.1 billion.

Hormel expects full-year earnings to be $1.70 to $1.82 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

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up