Hormel Foods Corp. reported record performance for the fiscal year 2015 first quarter. All comparisons are to the first quarter of fiscal 2014. Excluding nonrecurring charges, the company reported fiscal 2015 first quarter non-GAAP adjusted net earnings of $187.3 million, up 22 percent from net earnings of $153.3 million a year earlier. Non-GAAP adjusted diluted earnings per share for the quarter were $0.69, up 21 percent compared to $0.57 last year.
On a GAAP basis, the company reported fiscal 2015 first quarter net earnings of $171.7 million, up 12 percent from net earnings of $153.3 million a year earlier. Diluted earnings per share for the quarter were $0.64 this year compared to $0.57 per share last year. Sales for the quarter were $2.4 billion, up 7 percent from the same period in fiscal 2014.