USA: Hormel Foods increases Q4 earnings guidance
US consumer-branded meat and food products firm Hormel Foods has increased its fourth-quarter earnings guidance, boosted by better-than-expected results from the Jennie-O Turkey Store and grocery products divisions.
The company, which makes Spam luncheon meat, said that it expects earnings for the fourth quarter ending 30 October 2005 to be in the range of 56 to 59 cents per share, compared to its previous guidance range of 50 to 56 cents per share.
"Exceptional market conditions and good growth from value-added products within the Jennie-O Turkey Store segment delivered better-than-expected results for the quarter. Also, strong demand for key brands within the grocery products segment benefited the quarter beyond our expectations," said Joel Johnson, chairman of the board and chief executive officer.
Meat packaging is at the heart of two new trends in the US. A Massachusetts company is developing food labels that change colour to signal the freshness of packaged meat, while several retailers are r...
Hormel Foods Corporation, the multinational marketer of consumer-branded meat and food products, has reported fiscal 2006 first quarter net earnings of US$69.3m, up 7% from last year. Diluted earnings...
US consumer-branded meat and food products firm Hormel Foods has reported fourth quarter net earnings of $81.7m, up from of $69.8m a year earlier. Sales totalled $1.5bn, up from $1.3bn in fiscal 2004....
US food maker Hormel Foods has named Jeffrey Ettinger to be the company's ninth chief executive officer....
US food company Hormel Foods has reported lower third-quarter profit but said the outlook for the business was good going into the fourth quarter....
The domestic operations of Philippines food company San Miguel have posted a second quarter operating income of 800m pesos (US$14.3m) for the second quarter, four times the first quarter result and 27...
Food processor Hormel Foods has announced the retirement of two senior executives and a series of management changes to follow those retirements....
Food processor Hormel Foods is ceasing the use of chemical preservatives to process one of its sliced meats lines....
- Why "simple" and "real" will be industry buzzwords
- Nestle's 2014 results: 10 Things to Learn
- On the money: Can Danone grow fresh dairy?
- Why US Dietary Guidelines report deserves praise
- Maspex: M&A opportunities in eastern Europe
- Kerry Group CEO expects more M&A in 2015
- Gruma FY earnings surge as margins improve
- Kerry sales, earnings rise but food weighs
- ABF continues to expect profit drop
- Irish Dairy Board to change name to Ornua