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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Hormel Foods Reports on Q4 FY 2019

11/26/2019

In a November 26th release Hormel Foods reported on results for Q4 of FY 2019 ending October 27th. The Company recorded a net income of $255 million on sales of $2.55 billion achieving an EPS of $0.47. For Q4 FY 2018 comparable figures were sales of $2.53billion, net earnings of $241 million and an EPS of $0.48.

 

The Jennie-O Turkey store segment increased earnings by 5.9 percent in Q4 FY 2019 to $41.03 million on sales of $398.51 million, 2.6 percent higher than in Q4 FY 2018. The Jennie-O segment represented 15.9 percent of Hormel Foods sales for Q4 and 12.5 percent of operating profit. These values were little changed from Q4 FY 2018 during which the Segment attained 15.4 percent of sales and 12.1 percent of operating profit. Hormel Foods reported that Jennie-O volume increased by 5 percent in Q4 FY 2019 indicating erosion in unit selling price.


 
Copyright 2019 Simon M. Shane