Hormel: Fiscal 4Q Earnings Snapshot
AUSTIN, Minn. (AP) _ Hormel Foods Corp. (HRL) on Tuesday reported fiscal fourth-quarter net income of $255.5 million.
On a per-share basis, the Austin, Minnesota-based company said it had net income of 47 cents.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 47 cents per share.
The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $2.5 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.52 billion.
For the year, the company reported profit of $978.8 million, or $1.80 per share. Revenue was reported as $9.5 billion.
Hormel expects full-year earnings to be $1.69 to $1.83 per share, with revenue in the range of $9.5 billion to $10.3 billion.
Hormel shares have risen slightly since the beginning of the year, while the Standard & Poor’s 500 index has increased 25%. The stock has dropped slightly more than 6% in the last 12 months.