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Hormel Foods Reports Third Quarter Results

Hormel Foods Corporation, a leading global branded food company, today reported results for the third quarter of fiscal 2019. All comparisons are to the third quarter of fiscal 2018 unless otherwise noted. Results reflect the divestiture of the CytoSport business. The impact of this transaction is excluded in the presentation of the non-GAAP measures below.

Executive Summary

  • Volume of 1.1 billion lbs., down 4%; organic volume down 1%
  • Net sales of $2.3 billion, down 3%; organic net sales flat
  • Pretax earnings of $261 million, up 1%
  • Operating margin of 11.2% compared to 10.9% last year
  • Effective tax rate of 23.6% compared to...

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