Hormel Foods Corp (HRL) Releases Earnings Results, Beats Expectations By $0.01 EPS

Hormel Foods Corp (HRL) reported quarterly earnings results on Thursday, Aug-18-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.35. The company posted revenue of $2302.38 million in the period, compared to analysts expectations of $2260.70 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Hormel Foods Corp opened for trading at $36.13 and hit $36.53 on the upside on Wednesday, eventually ending the session at $36.35, with a gain of 0.44% or 0.16 points. The heightened volatility saw the trading volume jump to 36,89,401 shares. Company has a market cap of $19,260 M.

In a different news, on Jul 1, 2016, Dakota A Pippins (director) sold 5,000 shares at $36.74 per share price. According to the SEC, on Jun 29, 2016, Steven G Binder (Executive Vice President) sold 400 shares at $34.98 per share price. On Apr 6, 2016, Elsa A Murano (director) sold 6,001 shares at $42.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products. The Company has five segments: Grocery Products which consists of the processing marketing and sale of shelf-stable food products sold primarily in the retail market; Refrigerated Foods which consists of the processing marketing and sale of branded and unbranded pork and beef products for retail foodservice and fresh product customers; Jennie-O Turkey Store which consists of the processing marketing and sale of branded and unbranded turkey products for retail foodservice and fresh product customers; Specialty Foods which consists of the packaging and sale of private label shelf stable products nutritional products sugar and condiments to industrial retail and foodservice customers and International & Other which includes the Hormel Foods International operating segment which manufactures markets and sells the Company products internationally.

Hormel Foods Corp

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