Hormel Foods Reports Record First Quarter Sales And Reaffirms Full Year Sales and Earnings Guidance
Hormel Foods Corporation, a leading global branded food company, today reported results for the first quarter of fiscal 2022. All comparisons are to the first quarter of fiscal 2021 unless otherwise noted.
EXECUTIVE SUMMARY – FIRST QUARTER
- Volume of 1.2 billion lbs., up 2%; organic volume1 down 4%- Record net sales of $3.0 billion, up 24%; organic net sales1 up 13%- Operating income of $320 million, up 19%- Operating margin of 10.5%, compared to 10.9% last year- Pretax earnings of $309 million, up...
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