Hormel Reports Better-Than-Expected Q1 Earnings (HRL)

Hormel Foods Corp. (NYSE: HRL) has posted good Q1 results. The food company has shown strong sales and improved margins. Hormel’s (HRL) profit rose by 37 percent to $111.2 million. Its sales were up by 2 percent to $1.73 billion. The company expects to earn $2.68 to $2.78 per share for the year.

Hormel’s grocery products unit showed 37 percent growth in its operating profit. The unit also improved its sales by 8%. Hormel’s Jenny-O turkey products also recorded 5 percent growth. Company’s private label products also showed 5 percent revenue growth.