Hormel Foods reports record fourth quarter, full year results

Hormel Foods Corporation (NYSE: HRL) today reported its performance for the fiscal year 2013 fourth quarter and full year.

All comparisons are to the fourth quarter or full year of fiscal 2012.

HIGHLIGHTS

Fourth Quarter

• Record diluted EPS of $0.58, up 18 percent from $0.49 per share
• Segment operating profit increased 21 percent
• Record dollar sales of $2.3 billion, increased 7 percent; volume up 3 percent
• Grocery Products operating profit up 17 percent; volume up 24 percent (volume down 2 percent excluding sales of SKIPPY® products); dollar sales up 23 percent (dollar sales up 1 percent excluding sales of SKIPPY® products)
• Refrigerated Foods operating profit up 30 percent; volume down 5 percent; dollar sales up 4 percent
• Jennie-O Turkey Store operating profit up 25 percent; volume up 8 percent; dollar sales up 7 percent
• Specialty Foods operating profit down 34 percent; volume down 8 percent; dollar sales down 14 percent
• International & Other operating profit up 82 percent; volume up 32 percent (volume up 15 percent excluding sales of SKIPPY® products); dollar sales up 38 percent (dollar sales up 18 percent excluding sales of SKIPPY® products)

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