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Lunch meat maker Hormel cuts full-year outlook
June 18, 2013 / 12:27 PM / 4 years ago

Lunch meat maker Hormel cuts full-year outlook

June 18 (Reuters) - Hormel Foods Corp, the maker of Spam lunch meat, cut its full-year outlook on Tuesday, citing weakness in its pork business, higher input costs and softer sales at its refrigerated foods unit.

The company, which is also a turkey and pork processor, said it sees earnings of $1.88 a share to $1.96 a share for the current year, down from its prior forecast of $1.93 to $2.03.

Analysts on average were looking for a profit of $1.99 a share, according to Thomson Reuters I/B/E/S.

Hormel said it will provide more details of the outlook at its investor day on June 26.

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