WASHINGTON (dpa-AFX) - Hormel Foods Corp (HRL) revealed a profit for its fourth quarter that increased from last year in line with the Street estimates.
The company's earnings totaled $220.20 million, or $0.40 per share. This compares with $195.94 million, or $0.36 per share, in last year's fourth quarter.
Excluding items, Hormel Foods Corp reported adjusted earnings of $230.74 million or $0.42 per share for the period.
Analysts on average had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 1.9% to $3.138 billion from $3.198 billion last year.
Hormel Foods Corp earnings at a glance (GAAP) :
-Earnings (Q4): $220.20 Mln. vs. $195.94 Mln. last year. -EPS (Q4): $0.40 vs. $0.36 last year. -Revenue (Q4): $3.138 Bln vs. $3.198 Bln last year.
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