SUMMARY – THIRD QUARTER
- Record earnings before income tax of $278 million, up 1 percent compared to 2016 earnings before income tax of $274 million;
- Diluted earnings per share of $0.34, down 6 percent from 2016 EPS of $0.36;
- Income taxes up $17 million compared to 2016; tax rate of 34.3 percent compared to 28.6 percent in 2016;
- Sales of $2.2 billion, down 4 percent; Non-GAAP1 adjusted sales2 up 1 percent;
- Volume down 9 percent; Non-GAAP1 adjusted volume2 down 1 percent;
- Refrigerated Foods operating profit up 15 percent; volume down 16 percent; Non-GAAP1 adjusted volume2 down 1 percent; sales down 6 percent; Non-GAAP1 adjusted sales2 up 5 percent;
- Grocery Products operating profit up 10 percent; volume up 4 percent; Non-GAAP1 adjusted volume2 up 3 percent; sales up 6 percent; Non-GAAP1 adjusted sales2 up 3 percent;
- International & Other operating profit down 16 percent; volume up 1 percent; sales up 1 percent;
- Specialty Foods operating profit down 14 percent; volume down 8 percent; Non-GAAP1 adjusted volume2 up 2 percent; sales down 7 percent; Non-GAAP1 adjusted sales2 down 1 percent;
- Jennie-O Turkey Store operating profit down 20 percent; volume down 7 percent; sales down 9 percent.
Link para o informe completo:
Hormel | Press Release
