February 23, 2017 / 12:07 PM / 7 months ago

BRIEF-Hormel Foods Q1 earnings per share $0.44

Feb 23 (Reuters) - Hormel Foods Corp:

* Hormel foods announces record first quarter results

* Q1 earnings per share $0.44

* Q1 sales $2.3 billion versus I/B/E/S view $2.28 billion

* Q1 earnings per share view $0.45 -- Thomson Reuters I/B/E/S

* Lowers FY 2017 earnings per share view to $1.65 to $1.71

* Hormel Foods Corp - qtrly Jennie-O Turkey Store operating profit down 25 percent

* Hormel Foods Corp - company is lowering its fiscal 2017 guidance to $1.65 to $1.71 per share due to challenging market conditions in turkey industry

* Hormel Foods Corp - qtrly refrigerated foods operating profit up 4 percent

* Hormel Foods-tempering FY outlook for Jennie-O Turkey Store segment due to expected continuation of pricing pressure due to low commodity turkey prices

* Hormel Foods Corp - tempering full year outlook for Jennie-O Turkey Store segment also due to given shortfalls in Q1

* Hormel Foods Corp qtrly grocery products operating profit up 1 percent; volume up 4 percent; sales up 7 percent

* Hormel Foods Corp - qtrly refrigerated foods volume down 3 percent, Jennie-O Turkey Store volume up 22 percent

* Hormel Foods Corp qtrly specialty foods operating profit flat; volume down 30 percent; sales down 19 percent

* Hormel Foods Corp - high pork raw material costs continued to impact profitability of china meat business Source text for Eikon: Further company coverage:

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