Hormel raises full-year guidance
August 10, 2009
by FoodBusinessNews.net Staff
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."