This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Hormel Foods Reports Record Fourth Quarter, Full Year Results

Hormel Foods Corporation (NYSE: HRL) today reported its performance for the fiscal year 2013 fourth quarter and full year.

All comparisons are to the fourth quarter or full year of fiscal 2012.

HIGHLIGHTS

Fourth Quarter

  • Record diluted EPS of $0.58, up 18 percent from $0.49 per share
  • Segment operating profit increased 21 percent
  • Record dollar sales of $2.3 billion, increased 7 percent; volume up 3 percent
  • Grocery Products operating profit up 17 percent; volume up 24 percent (volume down 2 percent excluding sales of SKIPPY ® products); dollar sales up 23 percent (dollar sales up 1 percent excluding sales of SKIPPY ® products)
  • Refrigerated Foods operating profit up 30 percent; volume down 5 percent; dollar sales up 4 percent
  • Jennie-O Turkey Store operating profit up 25 percent; volume up 8 percent; dollar sales up 7 percent
  • Specialty Foods operating profit down 34 percent; volume down 8 percent; dollar sales down 14 percent
  • International & Other operating profit up 82 percent; volume up 32 percent (volume up 15 percent excluding sales of SKIPPY ® products); dollar sales up 38 percent (dollar sales up 18 percent excluding sales of SKIPPY ® products)

Fiscal Year

  • Record diluted EPS of $1.95, up 5 percent from diluted EPS of $1.86
  • Segment operating profit up 6 percent
  • Record dollar sales of $8.8 billion, up 6 percent; volume up 3 percent
  • Grocery Products operating profit up 18 percent; volume up 29 percent (volume flat excluding sales of SKIPPY ® and DON MIGUEL ® products); dollar sales up 30 percent (dollar sales up 2 percent excluding sales of SKIPPY ® and DON MIGUEL ® products)
  • Refrigerated Foods operating profit up 2 percent; volume down 4 percent; dollar sales up 1 percent
  • Jennie-O Turkey Store operating profit down 7 percent; volume up 1 percent; dollar sales up 3 percent
  • Specialty Foods operating profit up 7 percent; volume down 2 percent; dollar sales up 1 percent
  • International & Other operating profit up 43 percent; volume up 19 percent (volume up 7 percent excluding sales of SKIPPY ® products); dollar sales up 23 percent (dollar sales up 9 percent excluding sales of SKIPPY ® products)

The company reported fiscal 2013 fourth quarter net earnings of $157.3 million, up 19 percent from net earnings of $132.6 million a year earlier. Diluted earnings per share for the quarter were $0.58, up 18 percent compared to $0.49 last year. Sales for the quarter were $2.3 billion, up 7 percent from the same period in fiscal 2012.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.55 -9.23 -0.44%
NASDAQ 4,966.4950 -13.4060 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs