Tags: Hormel | Spam | meat | outlook

Lunch Meat Maker Hormel Cuts Full-Year Outlook

Tuesday, 18 June 2013 09:18 AM

Hormel Foods Corp., the maker of Spam lunch meat, cut its full-year outlook, citing weakness in its pork business, higher input costs and softer sales at its refrigerated foods unit.

The company, which is also a turkey and pork processor, said it sees earnings of $1.88 a share to $1.96 a share for the current year, down from its prior forecast of $1.93 to $2.03.

Analysts on average were looking for a profit of $1.99 a share, according to Thomson Reuters I/B/E/S.

Hormel said it will provide more details of the outlook at its investor day on June 26.

© 2020 Thomson/Reuters. All rights reserved.


   
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Hormel Foods Corp., the maker of Spam lunch meat, cut its full-year outlook, citing weakness in its pork business, higher input costs and softer sales at its refrigerated foods unit.
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2013-18-18
Tuesday, 18 June 2013 09:18 AM
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