Packaged food and meat products maker Hormel Foods Corp. (HRL) reported a marginal growth in first-quarter net earnings attributable to the company to $129.72 million, from $128.4 million a year before, with quarterly earnings per share amounting to $0.48, even with last year. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.48 for the quarter. Analysts' estimates typically exclude one-time items.
Net sales reached $2.12 billion this quarter, up 3.8 percent from the prior year's $2.04 billion, while it missed consensus estimates of $2.14 billion.
According to the company, "We continue to generate solid top-line momentum with many of our franchises, as our broad portfolio of value-added products resonates with consumers. In terms of operating profits, strong results by our Specialty Foods, Grocery Products and All Other (International) segments offset weaker results by our Jennie-O Turkey Store segment. Results in our Refrigerated Foods segment, while even with a year ago, were hindered by poor pork processing margins."
For fiscal 2013, the company raising its earnings guidance to $1.93 - $2.03 per share from the prior forecast of $1.90 - $2.00 per share, while 11 analysts project annual earnings per share of $1.96.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.