WASHINGTON (dpa-AFX) - Hormel Foods Corp (HRL) revealed a profit for its first quarter that Increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $181.80 million, or $0.33 per share. This compares with $170.58 million, or $0.31 per share, last year.
Excluding items, Hormel Foods Corp reported adjusted earnings of $186.48 million or $0.34 per share for the period.
Analysts on average had expected the company to earn $0.32 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 1.3% to $3.027 billion from $2.988 billion last year.
Hormel Foods Corp earnings at a glance (GAAP) :
-Earnings: $181.80 Mln. vs. $170.58 Mln. last year. -EPS: $0.33 vs. $0.31 last year. -Revenue: $3.027 Bln vs. $2.988 Bln last year.
-Guidance: Full year EPS guidance: $ 1.43 To $ 1.51 Full year revenue guidance: $ 12.2 B To $ 12.5 B
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