Articles Tagged with ''fiscal''

Company delivers record results as earnings increase 38%.

Hormel Foods Corp. reported record performance for the fiscal year 2016 fourth quarter and full year.

For the fiscal year, sales dropped from a record $41.373 billion in 2015 to $36.881 billion.

Sales in the third quarter increased 4.1% to $848.1 million.

The Animal Nutrition & Protein segment was the largest contributor to adjusted operating earnings.

The company reported record net earnings of $195.7 million, up 33 percent.

Operating income increased from $563 million to $767 million, and net income increased from $344 million to $485 million.

Company achieves net earnings $31.4 million compared to a net loss of $7.5 million last year.

For the full year, sales from continuing operations increased 4.3% from last year.

Net sales for the first quarter of fiscal 2016 were $605.2 million compared with $667.4 million for the same period a year ago.