Hormel Foods Corp. (HRL) announced it has lowered full-year guidance range for fiscal 2013 profit per share to $1.88-$1.96, from $1.93-$2.03. The company said lower than expected results in its pork operations, higher input costs and softer sales of retail products in Refrigerated Foods segment are the primary reason for the expected shortfall in second half results.
Analysts polled by Thomson Reuters expect the company to report profit per share of $1.99 for the fiscal year. Analysts' estimates typically exclude special items.
Hormel Foods said it remains very bullish about the company's future earnings potential.
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