Hormel Foods Announces Record Third Quarter Results And Reaffirms Fiscal 2018 Earnings Guidance
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Hormel Foods (HRL) Reports In-Line Q3 EPS, Revenues Miss; Lowers FY18 Revenue Outlook Below Consensus, Affirms FY18 EPS Outlook
August 23, 2018 6:33 AM EDTHormel Foods (NYSE: HRL) reported Q3 EPS of $0.39, in-line with the analyst estimate of $0.39. Revenue for the quarter came in at $2.35 billion versus the consensus estimate of $2.38 billion.
Record diluted earnings per share of $0.39, up 15% from 2017 EPS of $0.34
Fiscal 2018 earnings guidance reaffirmed at $1.81 to $1.95 per share
Record net sales of $2.4 billion, up 7%; organic net sales1 flat
Volume of 1.2 billion lbs., up 5%; organic volume1 up 1%
Operating margin of 11.1% compared to 12.7% last year... More
