Hormel Foods Posts Higher Profit, Lifts Guidance
February 22, 2016 | 1 min to read
Hormel Foods Corp. boosted its guidance for the year as profit in the most recent quarter shot up 37% on strength from its refrigerated foods, grocery products and specialty foods segments, as well as "positive momentum" at Jennie-O Turkey Store.
Still, the meat processor's results fell short of analyst expectations.
For 2016, the company now anticipates earnings of $1.50 to $1.56 a share, up from previous guidance for $1.43 to $1.48 a share.
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Source: MarketWatch.com