Deutsche Bank Upgrades Hormel Foods (HRL) to Buy
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Hormel Foods Reports Third Quarter Earnings and Raises Full Year Earnings Guidance
August 19, 2015 7:30 AM EDTAUSTIN, Minn.--(BUSINESS WIRE)-- Hormel Foods Corporation (NYSE: HRL) today reported record performance for the fiscal year 2015 third quarter. All comparisons are to the third quarter of fiscal 2014.
SUMMARY
Record diluted EPS of $0.54; non-GAAP1 diluted EPS of $0.56 excluding Applegate Farms, LLC (Applegate) transaction costs of $8.6 million or $0.02 per share. 2015 non-GAAP1 adjusted earnings guidance range increased to $2.57 to $2.63 per share2, includes neutral full year impact of Applegate acquisition. Record volume sales, up 3 percent; dollar sales of $2.2 billion, down 4 percent.... More