Increased SPAM sales in tough economic times?
Hormel Net Rises 17%, Gives Strong View
By PAUL ZIOBRO
Hormel Foods Corp.'s earnings increased 17% as the food-processing company reported growth at its refrigerated-foods and Jennie-O turkey businesses.
The maker of Spam and Dinty Moore stews also set its earnings outlook for the new year at $3.10 to $3.20; that is ahead of the average analyst estimate of $3.05, according to Thomson Reuters.
Its shares rose 3% in afternoon trading Tuesday to $49.32.