This morning, Hormel Foods (NYSE:HRL) reported fiscal third quarter earnings of $113.6 million, or 42 cents per share, as revenue rose by 8% to $2.16 billion. While the company missed on earnings, it did top sales estimates as the Skippy acquisition in January has helped increase revenue in the grocery segment by 25% year over year. In the report, Hormel maintained its full-year earnings forecast of $1.88 to $1.96 per share. Shares of Hormel Foods were modestly lower on the earnings miss.
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