Hormel raises full-year guidance

by FoodBusinessNews.net Staff
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AUSTIN, MINN. — Hormel Foods Corp. has raised its guidance for fiscal 2009 to a range of $2.36 to $2.42 per share, up from a previous guidance of $2.15 to $2.25 per share.

"A strong performance in our refrigerated foods segment, an improved performance by our Jennie-O Turkey Store segment and continued solid results from our Grocery Products segment allowed us to deliver a stronger than expected third quarter," said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer. "We also benefited from better investment performance in our rabbi trust."

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