UPDATE: Hormel Posts Rise In Q1 Earnings

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.