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Hormel Foods Narrows FY19 EPS Outlook Range - Quick Facts

Branded food company Hormel Foods Corp. (HRL) on Thursday narrowed its earnings guidance range for the full year 2019 ahead of its Investor Day at the New York Stock Exchange later in the day.

At the Investor Day, the company's senior management team will provide insights on the company's strategies for delivering sustainable long-term growth. The will also outline the Company's 2020 Path Forward, a set of six strategic initiatives to achieve the company's key results.

For fiscal 2019, the company now projects earnings in a range of $1.76 to $1.80 per share, compared to the previous outlook in the range of $1.71 to $1.85 per share.

The company has not provided any update an annual net sales guidance, with the recent guidance being between $9.50 billion and $10.00 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.74 per share on net sales of $9.51 billion for the year. Analysts' estimates typically exclude special items.

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