WASHINGTON (dpa-AFX) - correction: corrects earnings per share and revenue estimate in last paragraph
Hormel Foods Corp. (HRL) reported fiscal 2013 second quarter net earnings attributable to the company of $125.5 million, down 2 percent from net earnings of $127.9 million a year earlier. On a per share basis, net income declined to $0.46, from $0.48 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter were $2.2 billion, up 7 percent from fiscal 2012. Eight analysts had consensus revenue estimate of $2.19 billion for the quarter.
The company maintained its fiscal 2013 earnings per share guidance in a range of $1.93 to $2.03. Analysts expect the company to report earnings of $2 per share on revenue of $8.81 billion for fiscal 2013.
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