BMO Capital Upgrades Hormel Foods (HRL) to Outperform
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Hormel Foods Achieves Record Third Quarter Results and Raises Full Year Guidance
August 18, 2016 6:30 AM EDTAUSTIN, Minn.--(BUSINESS WIRE)-- Hormel Foods Corporation (NYSE: HRL) today reported record performance for the fiscal year 2016 third quarter.
All comparisons are to the third quarter of fiscal 2015. All earnings per share measures have been adjusted to reflect the two-for-one stock split distributed on February 9, 2016.
SUMMARY
Record diluted earnings per share of $0.36, up 33 percent from $0.27 per share. Record net earnings of $195.7 million, up 33 percent from net earnings of $146.9 million. Record dollar sales of $2.3 billion, up 5 percent; volume up 1 percent.... More