潜水简介:
- Hormel reported record third-quarter earnings Thursday, including a 5% increase in sales to $2.3 billion, a new high for the company.
- Hormel also saw its net earnings soar 33% to a record $195.7 million for the quarter, marking the 13th consecutive quarter of record earnings, Hormel chairman and CEO杰弗里·埃丁格（Jeffrey M. Ettinger）在一份声明中说。
- 该公司今年第三次提高了全年的利润前景，现在预计将达到$1.60 to $1.64 a share, up from the prior estimate of $1.56 to $1.60.
潜水见解：
Hormelcontinues to deliver growth for shareholders。Over the past decade, the company has increased revenue from $5.4 billion to $9.3 billion, more than doubled earnings, nearly quadrupled dividends, produced about a 400% return on its stock price and increased itsFortune 500 rankingby almost 100 spots, to No. 304 this year.
Three of Hormel's five segments posted growth in volume, sales and earnings in the quarter, which stands out from several competitors' recent earnings reports.
Jennie-O Turkey Store posted the largest segment numbers as the brand continues to bounce back from the dive it took during and following去年的鸟类流感爆发。该细分市场报告增加了59％operating profit, 29% increase in volume and 20% increase in dollar sales. As the holidays draw nearer, the combination ofholiday-related turkey sales和the bird flu rebound could keep these numbers strong in coming quarters.
The next largest growth numbers came from the refrigerated foods segment, which includes Hormel's 2015收购Applegate农场。This segment boosted itsoperating profit by 24%, volume by 3% and dollar sales by 9%. Applegate has proven to bea strong growth channel for Hormel, especially as the brand continues to lead industrywide initiatives likeremoving GMOs throughout its entire supply chain。
The grocery products segment reported flat operating profit, but volume was up 1% and dollar sales up 3%. Growth here came from both legacy brands, like Spam and Skippy, but also new additions like Justin's,thenut butter-based snack maker Hormel acquiredearlier this year.
Specialty foods was a notable exception to the otherwise growth-centric earnings report. The segment's operating profit was down 13% as volume dropped 32% and dollar sales fell 25%. However, those declines primarily reflected the impact of Hormel's divestment of the Diamond Crystal Brands business, the company said in a statement.
