Hormel Foods said today (22 August) it recorded “solid” earnings and sales in its third quarter and reiterated its full-year guidance.
The Us group firm saw earnings climb to US$113.6m in the three months ended 28 July, up 2% on last year. Operating profit increased 5.1% to $180.6m.
Sales for the quarter were up 8% to $2.2bn.
“We had a solid quarter, with all five segments reporting increased sales over last year,” said CEO Jeffrey Ettinger. “We also generated improved earnings, with four of five segments posting increased operating profits.”
Hormel maintained its full-year earnings guidance range of $1.88 to $1.96.