Hormel Foods’s share of pre-conference trading rose 1.1% as the food company announced sales for the fourth quarter that exceeded estimates for a new record.
Net income was $ 281.7 million, or 51 cents a share, up from $ 234.4 million, or 43 cents a year, a year earlier.
Sales of $ 3.455 billion increased from $ 2.420 billion last year.
Convergent estimates spoke of 50 cents earnings per share and sales of $ 3.223 billion.
“For the second consecutive quarter, we recorded the highest quarterly net sales in our history,” CEO Jim Snee said in a statement.
For the year 2022, the company expects sales of 11.7-12.5 billion dollars and earnings per share of 1.87-2.03 dollars.
Convergent estimates put sales at $ 12.086 billion and $ 1.94 per share.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
