Hormel Foods serves up some savory gains

    Aug. 19, 2004
    Hormel Foods Corp, the Austin MN-based marketer of meat and food products, reported fiscal 2004 third quarter net earnings of $56.3 million, up 63% from $34.7 million a year earlier.

    Hormel Foods Corp, the Austin MN-based marketer of meat and food products, reported fiscal 2004 third quarter net earnings of $56.3 million, up 63% from $34.7 million a year earlier (current year includes an $11.5 million after-tax gain from the sale of Vista International Packaging Inc). Sales totaled $1.2 billion, up from $1.0 billion in the same period a year ago.

    For the nine months ended July 24, net earnings were $161.8 million (includes an $11.5 million gain from the Vista sale), versus $115.4 million a year earlier. Sales totaled $3.4 billion, up from $3.0 billion in the same period of 2003.

    “The third quarter was eventful for Hormel Foods,” said Joel W Johnson, chairman of the board and chief executive officer. “Our strategies continue to drive profitability throughout the company.”

    About the Author

    from staff and wire reports

    Voice your opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!

    Continue Reading

    Sponsored Recommendations

    Downtime is expensive. This guide shows you how to keep your eet running, reduce repair surprises, and protect your margins—because when your trucks aren’t moving, you’re not...
    Learn how fast oil changes can optimize vehicle downtime for fleet owners. Improve revenue and employee productivity while ensuring customer satisfaction with efficient maintenance...
    Unlock proven strategies to streamline operations, lead your team, and keep your eet moving forward – all in one guide.
    Commercial fleets bear a heavy burden from economic uncertainty, operational costs, and litigation risks. In-cabin video technology offers opportunities to reduce fleet expenses...