Hormel Foods Corp Q1 Profit Decreases, Misses Estimates

Hormel Foods

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(RTTNews) - Hormel Foods Corp (HRL) released earnings for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $170.58 million, or $0.31 per share. This compares with $218.86 million, or $0.40 per share, last year.

Excluding items, Hormel Foods Corp reported adjusted earnings of $190.69 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.38 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 0.3% to $2.988 billion from $2.996 billion last year.

Hormel Foods Corp earnings at a glance (GAAP) :

-Earnings: $170.58 Mln. vs. $218.86 Mln. last year. -EPS: $0.31 vs. $0.40 last year. -Revenue: $2.988 Bln vs. $2.996 Bln last year.

-Guidance: Full year EPS guidance: $1.58 - $1.72 Full year revenue guidance: $11.9 - $12.2 Bln