Hormel Foods HRL reported an 18% rise in its fiscal first-quarter earnings.
Hormel's quarterly profit surged to $153.3 million, or $0.57 per share, from a year-ago profit of $129.7 million, or $0.48 per share.
Its sales climbed 6% to $2.24 billion. However, analysts were expecting earnings of $0.58 per share on sales of $2.25 billion.
Hormel shares closed at $45.31 yesterday.
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