Hormel Foods' Fourth Quarter Sales Rise 7 Percent, Fiscal Year Sales Up 6 Percent

Nov. 27, 2013

Hormel Foods announced its fourth quarter and fiscal year 2013 results with sales increasing 7 and 6 percent, respectively.

The company reported fiscal 2013 fourth quarter net earnings of $157.3 million, up 19 percent from net earnings of $132.6 million a year earlier. Diluted earnings per share for the quarter were $0.58, up 18 percent compared to $0.49 last year. Sales for the quarter were $2.3 billion, up 7 percent from the same period in fiscal 2012.

For the year ended Oct. 27, 2013, net earnings were $526.2 million, up 5 percent from net earnings of $500.1 million last year. Diluted net earnings per share were $1.95, up 5 percent from diluted net earnings per share of $1.86 last year. Sales for the year ended Oct. 27, 2013, totaled $8.8 billion, up 6 percent from last year.

"We achieved excellent results in the fourth quarter with earnings per share growth of 18 percent and sales up 7 percent. We delivered both segment profit and sales increases in four of our five segments. We are pleased with our team’s ability to drive earnings growth through our on-going efforts to improve operational efficiencies and focus on expanding our value-added franchises, providing strong momentum heading into fiscal 2014," said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer, in a prepared statement.

"In looking at the full year, we enjoyed sales growth of 6 percent, ending the year at a record $8.8 billion. We grew earnings per share by 5 percent, finishing at record earnings of $1.95 per share, at the upper end of our adjusted guidance range. We broadened our portfolio with the addition of the iconic Skippy® brand, providing our team another excellent platform for innovation across many categories. We continued to execute our value-added growth strategy this year with successful new product launches, including our new Hormel® Rev® snack wraps in the retail space and Hormel® Fire BraisedTM meats in the foodservice channel,” commented Ettinger.


Hormel Logo

Hormel Foods Lowers 2013 Fiscal Outlook

June 20, 2013
Hormel Foods Corp. lowered its full year guidance range for fiscal 2013 from $1.93 to $2.03 per share to $1.88 to $1.96 per share. "Lower than expected results in our pork operations...