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Hormel Foods Corp
HRL reported a 41% rise in its fiscal second-quarter net profit and raised its projections on Wednesday.
Hormel reported its quarterly net profit at $109.6 million, or $0.40 per share, up from $77.9 million, or $0.29 per share, in the year-earlier period. Its sales increased 15% to $1.96 billion. However, analysts were expecting earnings of $0.41 per share on sales of $1.82 billion.
Hormel now projects earnings for the fiscal year of $1.67 to $1.73 per share, up from its earlier forecast of $1.62 to $1.68 per share. However, analysts were expecting earnings of $1.71 per share.
Hormel shares dropped 0.10% to close at $30.02 yesterday.
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from Benzinga's Company news.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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