Hormel Foods Earns 74 Cents per Share

Good news for Hormel Foods (HRL). The spam company just reported fiscal Q4 earnings of 74 cents per share. That topped expectations by five cents per share. This is a solid report from Hormel.

“I am proud of the excellent fourth quarter delivered by our team, achieving record earnings for the tenth straight quarter. We reported record bottom line results for the full year, with fiscal 2015 adjusted net earnings up 19 percent over last year and all five segments registering earnings growth,” said Jeffrey M. Ettinger, chairman of the board and chief executive officer.

For the year, Hormel earned $2.64 per share which topped their announced range of $2.57 to $2.63 per share. That’s a 19% increase over last year.

For 2016, Hormel projects a range of $2.85 to $2.95 per share. That’s above Wall Street’s consensus of $2.83 per share.

Best of all, the spam company also raised their quarterly dividend by 16% to 29 cents per share. That comes to $1.16 per share for the year. This is Hormel’s 50th-straight annual dividend increase. Based on yesterday’s close, HRL yields 1.7%.

The stock gapped as high as $71.71 per share which is a new 52-week high. Check out the 25-year chart on Hormel.

sc11242015

Posted by on November 24th, 2015 at 9:07 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.