Hormel Foods has lowered its sales guidance after pressure on parts of the US group's turkey and snacks businesses weighed on its third-quarter results.
The Jennie-O turkey and Skippy peanut ***** er brands owner now sees its annual net sales rising 1-2% on an organic basis, versus its earlier growth forecast of 1-4%.
It projects annual net sales in the range of $12.1-12.2bn.
Hormel said the revised outlook for its organic sales growth covers the impact of the sale of its business in Brazil and its "view on the external environment".
At the same time, the company raised its adjusted operating income outlook to between $1.08-1.12bn and lifted adjusted earnings per share (EPS) guidance to $1.45-1.51, with both measures implying growth of 6% to 10%.
#sales #Growth #turkey #foods
The Jennie-O turkey and Skippy peanut ***** er brands owner now sees its annual net sales rising 1-2% on an organic basis, versus its earlier growth forecast of 1-4%.
It projects annual net sales in the range of $12.1-12.2bn.
Hormel said the revised outlook for its organic sales growth covers the impact of the sale of its business in Brazil and its "view on the external environment".
At the same time, the company raised its adjusted operating income outlook to between $1.08-1.12bn and lifted adjusted earnings per share (EPS) guidance to $1.45-1.51, with both measures implying growth of 6% to 10%.
#sales #Growth #turkey #foods
2 days ago
