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Hormel Foods Trims FY19 Sales Outlook, Reaffirms EPS View - Quick Facts

While reporting financial results for the third quarter on Thursday, branded food company Hormel Foods Corp. (HRL) reaffirms its earnings guidance for the full-year 2019, while trimming annual net sales outlook as its navigates near-term uncertainty related to African swine fever.

For fiscal 2019, the company continues to project earnings in a range of $1.71 to $1.85 per share, while trimming annual net sales guidance to between $9.50 billion and $10.00 billion from the prior outlook range of $9.70 billion to $10.20 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.72 per share on net sales of $9.54 billion for the year. Analysts' estimates typically exclude special items.

"The fundamentals of our company are strong, and we remain focused on delivering our key results as we navigate near-term commodity market uncertainty," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods.

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