Hormel Foods Corp Q1 Profit Beats Estimates

(RTTNews) - Hormel Foods Corp (HRL) announced earnings for first quarter that beat the Street estimates.

The company's bottom line came in at $218.86 million, or $0.40 per share. This compares with $217.72 million, or $0.40 per share, in last year's first quarter.

Excluding items, Hormel Foods Corp reported adjusted earnings of $226.76 million or $0.41 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.0% to $3.00 billion from $2.97 billion last year.

Hormel Foods Corp earnings at a glance (GAAP) :

-Earnings (Q1): $218.86 Mln. vs. $217.72 Mln. last year. -EPS (Q1): $0.40 vs. $0.40 last year. -Revenue (Q1): $3.00 Bln vs. $2.97 Bln last year.

-Guidance: Full year EPS guidance: $1.51 - $1.65 Full year revenue guidance: $12.2 - $12.5 Bln