潜水简介：
- 荷米尔食品reported net income of $261.4 million — or 48 cents per share — in the fourth quarter, up from $218.2 million last year,根据最新收入报告。The jump was led by increases in refrigerated foods, where profit in the segment was up 25% this quarter.
- 网iNOCCOND超出了分析师预测的期望46 cents per share, butHormel的收入确实错过了1.22％。该公司的净销售额为25.2亿美元，比去年增长了1％，但有机净销售额下降了3％，杂货产品和珍妮 - O Turkey商店的下降。
- "Our team delivered a record quarter of earnings," Jim Snee, chairman of the board, president and chief executive officer, said in the release.“我们专注于建立品牌，为市场提供有意义的创新，进行战略收购以及建立故意平衡将确保我们能够实现我们的增长目标。"
Dive Insight:
近年来，Hormel一直表现强劲，本季度也不例外。大部分增长是该公司最近收购的结果。
The company has been active with M&A in recent years by acquiring brands like Applegate,贾斯汀的, Skippy and Muscle Milk. Last year, Hormelacquired deli meat and salami company Columbus Craft Meats有8.5亿美元 - 该公司历史上最大的收购。Hormel在新闻稿中说，该公司处于强大的财务状况，此次重大收购后，债务水平低，现金流量持续一致。
但是，由于收购和更高的广告投资，该年度的销售和行政费用确实增加了。该公司也是如此acquired Chicago-based Fontanini Italian Meats and Sausageslast year for $425 million. There are likely to be more deals in the future, given the company's continued strong earnings. Earlier this year, Hormel's CEO told Food Dive that the companyhasn't stopped looking用于收购。
冷藏食品领域的四分之一特别稳定，销售量增长了2％，净销售额增长了6％。销售增长是由Hormel Pepperoni，天然选择产品，Applegate天然和有机产品以及Austin Blues真实烧烤产品驱动的。销售也从哥伦布和丰塔尼根据报告，收购。公司的猪肉产品的增加并不奇怪，鉴于需求量很高for beef and pork in the U.S. amid the recent trade wars.
Volume and sales also increased internationally with higher exports of它著名的垃圾邮件和Skippy花生酱产品，以及添加Ceratti商业。由于贸易战一直以来，这些增加被猪肉出口较低所抵消削减肉类制造商的利润。
Not everything was good news for Hormel this quarter. The company's Jennie-O Turkey Store was down 4% in both volume and net sales. Those declines were caused by shipments that were shifted into the previous quarter to minimize cold storage expenses. But decreases in the Jennie-O segment might continue. Just this week, Jennie-Orecalled more than 145,000 pounds与多种药物抗药性沙门氏菌暴发有关的原始土耳其的土耳其可能会继续损害2019年这一领域的销售。
The company's positive earnings were also offset by grocery products, which were were down 4% in both volume and net sales. Although the company saw growth in volume and sales ofHerdezsalsa and Wholly Guacamole dips, it didn't offset declines in Hormel's contract manufacturing business and higher freight expenses.
Going forward, Hormel has set ambitious goals for the future. For fiscal year 2019, the company expects revenue of $9.7 billion to $10.2 billion. Those expectations are higher than the事实集共识耗资95.9亿美元。如果该公司可以从最近的收购中提高增长，并提高本季度挣扎的品牌，那么这些崇高的目标可能会成为现实。
"This coming year will require strong execution from every business unit in order to manage through commodity market volatility and global trade uncertainty. I know our team is up to the challenge,"打喷嚏在新闻稿中说。
