In a February 29th release, Hormel Foods Corporation (HRL) reported the results for the first quarter of FY 2024 ending January 28, 2024.
Hormel Foods no longer identifies Jennie-O Turkey Store as an operating segment. Turkey products are now incorporated into the financial results for the Retail, Food Service and International segments.
For the quarter, Hormel Foods Corporation earned $218.86 million on net sales of $2,997 million with a diluted EPS of $0.40. These figures compared to the corresponding first quarter of FY 2023 ending January 29th. Net earnings amounted to $217.72 million on net sales of $2,971 million with a diluted EPS of $0.40.
For fiscal 2024 Hormel projects diluted EPS in the range of $1.43 to $1.57.
The only reference to Jennie-O for the quarter was a note that “retail volume and sales of Jennie-O turkey items increased including above-category performance in the fresh ground turkey category. Jennie-O branded items in food service delivered double-digit volume and net sales growth.”