— 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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