Shares of Hormel Foods Corp. rallied Thursday, after parent of food brands, including Planters, Skippy, Spam and Natural Choice, reported fiscal second-quarter profit that beat expectations as the Planters business and volumes showed improvement.
Net earnings for the quarter to April 30 fell to $217.2 million, or 40 cents a share, from $261.6 million, or 48 cents a share, in the same period a year ago. That topped the FactSet consensus for earnings per share of 39 cents.
The…
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