Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Hormel's profit growth exceeds expectations, optimistic targets set for 2016


The packaged food industry is in the doldrums, but Hormel Foods still served investors an appetizing outlook Tuesday.

The Austin-based company, maker of everything from canned chili to organic meats, topped Wall Street’s fourth-quarter profit expectations. And Hormel raised the bar for its new fiscal year, forecasting profits comfortably above what stock analysts had anticipated.

Lower ingredient prices — for pork and beef, particularly — account for part of the rosier picture. Increased production efficiency does, too. And many of Hormel’s products fit well into a key consumer trend: the increasing demand for protein products.


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