AUSTIN, Minn. (AP) — AUSTIN, Minn. (AP) — Hormel Foods Corp. (HRL) on Wednesday reported fiscal fourth-quarter profit of $220.2 million.
The Austin, Minnesota-based company said it had net income of 40 cents per share. Earnings, adjusted for non-recurring costs, came to 42 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The maker of Spam canned ham, Dinty Moore stew and other foods posted revenue of $3.14 billion in the period, which matched Street forecasts.
For the year, the company reported profit of $805 million, or $1.47 per share. Revenue was reported as $11.92 billion.
Hormel expects full-year earnings in the range of $1.58 to $1.72 per share, with revenue in the range of $11.9 billion to $12.2 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HRL at https://www.zacks.com/ap/HRL
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.