WASHINGTON (dpa-AFX) - Hormel Foods Corp. (HRL), while reporting higher first-quarter results, on Thursday updated fiscal 2026 oulook for reported earnings per share and operating income, while maintaining adjusted earnings and sales view.
For fiscal 2026, the company now projects earnings per share to be in the range of $1.37 to $1.46, higher than previous estimate of $1.29 to $1.39.
Operating income is now expected to be in the range of $1.02 billion to $1.08 billion.
Further, the company continues to expect full-year adjusted earnings per share in the range of $1.43 to $1.51, reflecting year-over-year growth of 4 percent to 10 percent.
Net sales are still projected to be in the range of $12.2 billion to $12.5 billion, with organic net sales growth of 1 percent to 4 percent.
Adjusted operating income is still expected in the range of $1.06 billion to $1.12 billion, reflecting growth of 4 percent to 10 percent.
In the first quarter, the company's bottom line totaled $181.80 million or $0.33 per share, compared with $170.58 million or $0.31 per share last year.
Adjusted earnings were $186.48 million or $0.34 per share for the period, compared to $190,69 million or $0.35 per share last year.
The company's revenue for the period rose 1.3 percent to $3.027 billion from $2.988 billion last year.
In pre-market activity, the shares were trading at $25.53, up 0.85 percent.
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