Hormel (Maker of SPAM) profit tops view; lifts forecast

[Walrus Whisperer]

http://www.marketwatch.com/News/Sto...1597EB9-A3BA-4948-B99D-FEAAC2A896BB}&keyword=

FAIR USE FOR DISCUSSION PURPOSES ONLY:


Hormel profit tops view; lifts forecast

NEW YORK (MarketWatch) -- Hormel Foods Corp. said Thursday that second-quarter profit rose past Wall Street's target, helped by strong sales of Spam products, Lloyd's barbeque meats and foodservice pizza toppings.
Hormel, of Austin, Minn., said profit rose to $67.3 million, or 48 cents a share, from $56 million, or 40 cents, a year ago. Analysts polled by Thomson First Call forecast earnings, on average, of 45 cents a share.
Sales for the three months ended April 30 increased to $1.37 billion from $1.31 billion, with grocery products sales growing 5.4%, refrigerated foods sales rising 1.8%, Jennie-O Turkey store sales up 1.9% and specialty foods sales increasing 20%. Analysts forecast sales of $1.4 billion, on average.
The better-than-expected results led Hormel to raise its fiscal 2006 earnings estimate to $1.94 to $2.04 a share from $1.90 to $2 a share. Analysts' estimate stands at $1.96 a share.
Hormel said its refrigerated foods business benefited from lower pork costs, while the grocery products segment had strong growth in microwave tray items, bacon bits and Spam brand foods.

Dan Burrows is a reporter for MarketWatch in New York

----------------------

Okay, Which one of you is buying all that Spam?
(Have you tried their Spurkey?, Yum!)

 

[A.T.Hagan]

We had grits and Spam for supper the night before last. It's been a standard storage food for the Hagan family since the beginning. My kids love it.

.....Alan.

 

[Liquis]

Campbell's also posted higher earnings than expected in their soups and sauces division.....

 

[6ftofun]

LOL! Hard to name a lot of folks who actually LIKE SPAM, including myself, but I sure have a cupboard full of it. It's mighty tasty to me when there's nothing else to eat. I need to try it with grits, sorta sounds good!

Spam, spam, spam, spam, spammety spam, spammety spam!

 

[A.T.Hagan]

Fry the Spam crisp, serve it with milk cooked grits, and put the hot sauce on the table!

.....Alan.

 

[PilotFighter]

There stock went up because I bought 3 cases of Spam and 3 cases of their Tamales 2 days ago. LOL

 

[Walrus Whisperer]

Spam. Yum. Gonna bring some camping this weekend. Hubby wont touch it. Leaves more for me. (He'll HAVE to eat it when TSHTF.)

 

[Mushroom]

Maybe more folks are starting to get it after all. They are just keeping their mouths shut so nobody knows about it. Ya think?

Mushroom

 

[A.T.Hagan]

Maybe more folks are starting to get it after all. They are just keeping their mouths shut so nobody knows about it. Ya think?

Mushroom

I have been of the opinion for many years now that there are far more folks who prep than we'll ever know about simply because they keep their mouths shut and do not talk about it.

It has been my experience that when it comes to good prep threads on whatever boards there are more lurkers reading then than ever there are folks who actually post to the threads.

A pretty fair part of the contributed material that I used for the food storage FAQ came from folks who never publicly posted anywhere that I know of and did not want to be mentioned in the acknowledgements.

Unfortunately, even adding the hidden percentage, the total number of people who prep do not amount to much of the national population.

.....Alan.