Hormel Foods (HRL) Tops Q2 EPS by 4c

Hormel Foods (NYSE: HRL) reported Q2 EPS of $0.67, $0.04 better than the analyst estimate of $0.63. Revenue for the quarter came in at $2.27 billion versus the consensus estimate of $2.41 billion.

Quarterly highlights:

• Refrigerated Foods segment operating profit up 52 percent; volume up 1 percent; dollar sales down 8 percent.
• Jennie-O Turkey Store segment operating profit up 41 percent; volume up 14 percent; dollar sales up 15 percent.
• Grocery Products segment operating profit up 1 percent; volume up 4 percent; dollar sales up 1 percent. Excluding incremental net sales of MegaMex Foods products, volume down 4 percent and dollar sales down 5 percent.
• Specialty Foods segment operating profit up 11 percent; volume up 17 percent; dollar sales up 32 percent. Excluding incremental sales of CytoSport Holdings, Inc. (“CytoSport”) products, volume down 6 percent and dollar sales down 6 percent.
• International & Other segment operating profit up 2 percent; volume down 3 percent; dollar sales down 7 percent.

For earnings history and earnings-related data on Hormel Foods (HRL) click here.

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