Hormel increases FY 2009 outlook
August 10, 2009
by Bryan Salvage
AUSTIN, MINN. — Hormel Foods Corporation is increasing its guidance for fiscal 2009 earnings to $2.36 - $2.42 per share from its earlier guidance of $2.15 - $2.25 per share.
This increase is due to a strong performance from Hormel’s Refrigerated Foods segment, an improved performance by the Jennie-O Turkey Store segment, continued solid results from the Grocery Products segment and better investment performance in the company’s rabbi trust, said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer.