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Hormel Foods stock jumps to pace S&P 500 gainers after earnings beat, outlook raised

MW Hormel Foods stock jumps to pace S&P 500 gainers after earnings beat, outlook raised Shares o

Hormel Foods stock jumps to pace S&P 500 gainers after earnings beat, outlook raised

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The company's brands include SPAM, Skippy, Hormel and Jennie-O turkey. Net income edged up to $227.9 million, or 42 cents a share, from $227.7 million, or 42 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 41 cents. Sales grew 7.6% to a record $2.61 billion, above the FactSet consensus of $2.42 billion, as elevated demand, price actions and supply chain improvements helped offset margin pressure from higher costs. Gross margin fell to 18.3% from 19.7% as cost of products sold increased 9.5%. Volume fell 3% to 1.2 billion pounds. For Hormel's business segments, refrigerated foods sales rose 17% and volume grew 3%, while grocery products sales fell 8% and volume declined 14%. For fiscal 2021, the company affirmed its EPS guidance of $1.70 to $1.82 but raised its sales guidance range to $10.20 billion to $10.80 billion from $9.70 billion to $10.30 billion. The stock, which is on track for a three-month closing high, had tacked on 6.7% year to date, while the S&amp;P 500  has gained 10.5%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  May 20, 2021 12:43 ET (16:43 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hormel Foods stock jumps to pace S&P 500 gainers after earnings beat, outlook raised</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHormel Foods stock jumps to pace S&P 500 gainers after earnings beat, outlook raised\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-05-21 00:43</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Hormel Foods stock jumps to pace S&amp;P 500 gainers after earnings beat, outlook raised\n</p>\n<p>\n  Shares of Hormel Foods Corp. <a href=\"https://laohu8.com/S/HRL\">$(HRL)$</a> shot up 8.2%, enough to pace the S&amp;P 500's <a href=\"https://laohu8.com/S/HRL.AU\">$(HRL.AU)$</a> gainers, after the branded food company reported Thursday fiscal second-quarter profit and sales that topped expectations, and raised its full-year outlook. The company's brands include SPAM, Skippy, Hormel and Jennie-O turkey. Net income edged up to $227.9 million, or 42 cents a share, from $227.7 million, or 42 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 41 cents. Sales grew 7.6% to a record $2.61 billion, above the FactSet consensus of $2.42 billion, as elevated demand, price actions and supply chain improvements helped offset margin pressure from higher costs. Gross margin fell to 18.3% from 19.7% as cost of products sold increased 9.5%. Volume fell 3% to 1.2 billion pounds. For Hormel's business segments, refrigerated foods sales rose 17% and volume grew 3%, while grocery products sales fell 8% and volume declined 14%. For fiscal 2021, the company affirmed its EPS guidance of $1.70 to $1.82 but raised its sales guidance range to $10.20 billion to $10.80 billion from $9.70 billion to $10.30 billion. The stock, which is on track for a three-month closing high, had tacked on 6.7% year to date, while the S&amp;P 500  has gained 10.5%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  May 20, 2021 12:43 ET (16:43 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF","HRL":"荷美尔"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137736699","content_text":"MW Hormel Foods stock jumps to pace S&P 500 gainers after earnings beat, outlook raised\n\n\n  Shares of Hormel Foods Corp. $(HRL)$ shot up 8.2%, enough to pace the S&P 500's $(HRL.AU)$ gainers, after the branded food company reported Thursday fiscal second-quarter profit and sales that topped expectations, and raised its full-year outlook. The company's brands include SPAM, Skippy, Hormel and Jennie-O turkey. Net income edged up to $227.9 million, or 42 cents a share, from $227.7 million, or 42 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 41 cents. Sales grew 7.6% to a record $2.61 billion, above the FactSet consensus of $2.42 billion, as elevated demand, price actions and supply chain improvements helped offset margin pressure from higher costs. Gross margin fell to 18.3% from 19.7% as cost of products sold increased 9.5%. Volume fell 3% to 1.2 billion pounds. For Hormel's business segments, refrigerated foods sales rose 17% and volume grew 3%, while grocery products sales fell 8% and volume declined 14%. For fiscal 2021, the company affirmed its EPS guidance of $1.70 to $1.82 but raised its sales guidance range to $10.20 billion to $10.80 billion from $9.70 billion to $10.30 billion. The stock, which is on track for a three-month closing high, had tacked on 6.7% year to date, while the S&P 500  has gained 10.5%. \n\n\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  May 20, 2021 12:43 ET (16:43 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":534,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}