Hormel Foods Corp Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Hormel Foods Corp (HRL) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $180.02 million, or $0.33 per share. This compares with $189.28 million, or $0.34 per share, last year.

Excluding items, Hormel Foods Corp reported adjusted earnings of $192.93 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.34 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 0.4% to $2.898 billion from $2.887 billion last year.

Hormel Foods Corp earnings at a glance (GAAP) :

-Earnings: $180.02 Mln. vs. $189.28 Mln. last year. -EPS: $0.33 vs. $0.34 last year. -Revenue: $2.898 Bln vs. $2.887 Bln last year.

-Guidance: Full year EPS guidance: $1.58 - $1.68 Full year revenue guidance: $12.0 - $12.2 Bln