Hormel Foods (HRL): Q1 2020 Earnings Snapshot

— Hormel Foods Corporation (NYSE: HRL)
reported Q1 2020 earnings of $0.45 per share, vs. $0.46 expected.

— Sales grew 1% to $2.4 billion, vs. $2.3 billion expected.

— Volume fell 1% to 1.2 billion lbs.

— Refrigerated Foods net sales were up 6%.

— Grocery Products net sales were down 11%.

— Jennie-O-Turkey Store net sales rose 3%.

— International and Other net sales grew 5%.

— FY2020 net sales is expected to be $9.50 billion to $10.30 billion.

— FY2020 EPS is expected to be $1.69 to $1.83.

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