“A strong performance from our Refrigerated Foods segment, an improved performance by our Jennie-O Turkey Store segment and continued solid results from our Grocery Products segment, allowed us to deliver a stronger than expected third quarter. We also benefited from better investment performance in our rabbi trust,” said Jeffrey M. Ettinger, chairman of the board, president and CEO. The turkey operations had been struggling due to higher feed costs, but costs have led to better results.

Source: Wall Street Journal, Hormel Foods Corp.