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.
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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 ...
Check this out:
Spam at heart of South Pacific obesity crisis
http://www.freerepublic.com/focus/f-news/1968887/posts
We can’t let this thread die without finding out who this adorable young woman is.
I got the link from google as a joke about hot chicks eating spam, which happens a lot in Hawaii and the Philippines. I searched around to see if I could fish up more info on her, but no luck. The trail goes cold at Picasa webalbums. Here's the original link: image of Filipina spam eater
My wife(also hot) is Filipina, and let me tell you, there are tons of hot Hawaiian and Flip women that love SPAM.
There are alot of southeast Asians in the Seattle/Portland/Vancouver corridor.
I have seen some Filipino women who were knock down, drop dead gorgeous.
But then I heard rumors about this duck egg balut thing and did a bit of research - I seriously doubt I could cozy up to some dame with balut on her breath..
I’m turning green just thinking about it!
oh I’ve been to parties where they ganged up on me to try it. It’s only by the grace of God that I have escaped such a punishment lol Some of those eggs have crunchy parts in them.
Well, fantasizing about her made my day more entertaining.
Spam burgers and fried spam with maple syrup and baked spam with pineapple. Spam spread on crackers. Spam and eggs.
Bloody Vikings!
I admit that despite reading “Hormel” in the title, my mind said “junk email.”
Time to push away from the keyboard? LOL
>> Things looking good for the American economy!
Hope so. Hope home sales pick back up, I’m paying two mortgages. The last bubble turned my old neighborhood into a ghetto and I had to move to a better school district without first selling my house there...
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