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Hormel Foods Cuts FY19 Outlook - Quick Facts

While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019.

For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20 billion.

Previously, the company expected earnings in the range of $1.77 to $1.91 per share, and net sales in the range of $9.70 billion to $10.20 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.80 per share on net sales of $9.70 billion for the year. Analysts' estimates typically exclude special items.

"Our experienced management team, leading brands, focus on innovation, strong balance sheet and diversified businesses allow us to manage through times of uncertainty and volatility, as we are currently experiencing with African swine fever," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods.

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