2013-03-05 00:47:14 -
Finjitsu Research - Associated Analysts
Chicago, Illinois - February 22, 2013 -
Previous Perspective on Hormel Foods Corporation (HRL)
HRL reported Q4 diluted EPS of $0.49 versus $0.43 last year. This was above our
estimate but below the consensus estimate of $0.50. The beat was driven
primarily by lower interest expense, a lower number of shares outstanding, and a
lower tax rate versus our model. For the full year, HRL earned $1.86 per share.
Net sales increased by 3% to $2.17 billion but missed our estimate slightly.
Gross margin improved by 20bps to 16.2% but missed our estimate slightly.
For more information on this brief please visit: Hormel Foods Corporation (HRL)
| Expect Near Term Margin Weakness for JOT. Pork Margins Turn Positive.
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