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Spam sales help Hormel's profit gain 17%
CNN ^ | February 15, 2008

Posted on 02/15/2008 2:34:29 PM PST by Shermy

MINNEAPOLIS (AP) -- Hormel Foods Corp. said strong sales of Spam and a recovery in its turkey business boosted first-quarter earnings by 17%.

The meat producer said it made $88.2 million, or 64 cents per share, up from $75.3 million, or 54 cents in the prior-year period. Analysts surveyed by Thomson Financial had predicted 58 cents per share.

Sales rose 8% to $1.62 billion, from $1.5 billion last year. Wall Street expected revenue of $1.59 billion.

Shares rose nearly 3%, or $1.12, to $40 in premarket trading.

Lower pork costs helped results from its refrigerated foods segment. Sales of Spam and its Hormel Compleats microwave line helped its grocery products division. Hormel said it will add a new $89 million plant to make the Compleats in Dubuque, Iowa, which will open in November 2009.

< snip >

The Austin, Minn.-based Hormel said it expects higher grain and fuel prices for the rest of this year, which will hurt Jennie-O and some of its refrigerated foods business. That will be partially offset by lower hog prices, increases in selling prices, and manufacturing efficiencies, Ettinger said.

Asked about the economic environment and its impact on Hormel, Ettinger said he has seen some foodservice customers shift toward buying lower-priced items. He said he has not seen a similar shift for retail customers.

Hormel (HRL, Fortune 500) says it still expects 2008 earnings of $2.30 to $2.40 per share. Wall Street expects $2.35 per share. To top of page

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: hormel; spam; spamspamspamspam
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To: Shermy

There has to be a Ron Paul joke in there somewhere.


21 posted on 02/15/2008 2:53:25 PM PST by mnehring (Make your plans to fit the circumstances. - General George S. Patton, Jr)
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To: ThisLittleLightofMine
Okay who eats spam, it isn’t cheap and it tastes nasty.

she does :)

Image and video hosting by TinyPic

22 posted on 02/15/2008 2:54:04 PM PST by catbertz
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To: Shermy

When you fry up SPAM you can hear the pig squeak if you listen close enough.


23 posted on 02/15/2008 2:54:31 PM PST by Rome2000 (Peace is not an option)
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To: traumer
Spam Song!

24 posted on 02/15/2008 2:57:30 PM PST by Radix (I do not want to press one for English.)
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To: Shermy

<”Not so good for the American arteries”>

The stuff works great as a furniture polish. Makes scratches almost invisible.

(Drives the dogs crazy though)


25 posted on 02/15/2008 2:57:41 PM PST by Mrs.Z ("...you're a Democrat. You're expected to complain and offer no solutions." Denny Crane)
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To: catbertz
"she does :)"

OK. I don't who "she" is, but she's awfully cute. Maybe I'll rethink this spam thing.

26 posted on 02/15/2008 2:59:39 PM PST by joe.fralick
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To: Paleo Conservative

Yeah, some gay Hormel dude.


27 posted on 02/15/2008 3:00:03 PM PST by unkus
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To: Shermy

There are alternatives:

http://thewvsr.com/porkbrains.htm


28 posted on 02/15/2008 3:00:12 PM PST by tje
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To: Mrs.Z

LOL


29 posted on 02/15/2008 3:00:37 PM PST by unkus
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To: Shermy

Spam is a gift of God. Tastes great and 1,000,001 recipe uses. I’m proud of it’s Minnesota heritage.

As an aside, I think it would be a tremendous weapon in Iraq and points elsewhere in the muzzie world. Leftovers from the mess hall could be loaded into munitions to be atomized on impact with targets. Thus, all of Islam could be contaminated with pig meat in very short order making all future muzzie deaths contaminated and unfit for Paradise.


30 posted on 02/15/2008 3:07:24 PM PST by WorkingClassFilth (Get yer red meat, tobaccy and ammo, now. The krinton syndicate is moving back into the WH.)
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To: Paleo Conservative
A meat lover and a sport!

31 posted on 02/15/2008 3:08:18 PM PST by Lady Jag (Always look on the bright side of life)
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To: Paleo Conservative
Oh, but he's so much more than just a Sugar Daddy for Democrat candidates.

He's a "philanthropist," didn't you know?

Years ago he gave a huge chunk of cash to some library in San Fran for the purpose of creating a whole new wing of the library devoted to the advancement of "Man-Boy" love.

Wotta guy! A bonafide patron of the arts!

So the next time you buy Hormel products, think about where your cash is going. This is the reason we don't buy any Hormel any more. It's not just Spam; you will find the Hormel brand name on a wide variety of packaged products in the meat section of your groceries.

32 posted on 02/15/2008 3:17:35 PM PST by CardCarryingMember.VastRightWC
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To: swarthyguy
Spam Viagra recipes.....LOL!.... :D...nice spam....but, blue rice?
33 posted on 02/15/2008 3:24:45 PM PST by skinkinthegrass (just b/c your paranoid, doesn't mean "they" aren't out to get you...our hopes were dashed by CINOs :)
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To: ThisLittleLightofMine
Good afternoon.
“Okay who eats spam, it isn’t cheap and it tastes nasty.”

Yum, yum. Spam, Ritz crackers, Heinz 57 sauce and/or LRRP rations, with a dash of Tabasco, kept me going for most of 1968 and '69.

Michael Frazier

34 posted on 02/15/2008 3:40:13 PM PST by brazzaville (No surrender, no retreat. Well, maybe retreat's ok)
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To: catbertz

Need more info on the Babe, I think that is a weddingring on her left hand. Darn :-(


35 posted on 02/15/2008 3:43:28 PM PST by MrPiper
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To: Shermy
Yo!

Whud up dawg?

If Hormel can get McDonalds to bring back the McRib BBQ sandwich, they can boost our economy even more. 'Cause everyone knows the McRib is just Spam pressed into the shape of ribs.

Just sayin . . .

36 posted on 02/15/2008 3:55:57 PM PST by w_over_w (Do you have a problem with authority Mr. Anderson?)
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To: ThisLittleLightofMine

It’s great in Flyed lice.


37 posted on 02/15/2008 4:00:01 PM PST by Domangart (editor and publisher)
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To: ThisLittleLightofMine
Okay who eats spam, it isn’t cheap and it tastes nasty.

Da Kine! Spam is a staple food in Hawaii, brah

38 posted on 02/15/2008 4:01:18 PM PST by KenHorse (I am Shakespeare of Borg. Prepare to be or not to be)
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To: Shermy; Paleo Conservative

Paleo Conservative, you break my heart if that is true. Not only am I a member of the SPAM fan club, but I write SPAMku, such as...

“SPAM in ev’ry pot!”
The politicians promise.
Limbaugh calls it pork.

Note, the trademark SPAM should be written in all uppercase, distinguishing it from that yucky unsolicited commercial e-mail! :-)


39 posted on 02/15/2008 4:13:56 PM PST by Gondring (I'll give up my right to die when hell freezes over my dead body!)
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To: KenHorse

Bridge our cultural differences.

Help muslims assimilate.

Invite a muslim family over for Spam n’ Eggs.


40 posted on 02/15/2008 4:20:41 PM PST by Iron Munro (Suppose you were an idiot, and suppose you were a member of Congress; but I repeat myself.)
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