Hormel reports Q3 earnings drop amid plant startup costs
Hormel Foods reports third quarter earnings fell to 1.9 million dollars, 21 cents a share, from 6.8 million, 71 cents, as startup costs for a new plant and higher hog prices hit margins. Nine-month earnings total 18.8 million, 1.96 a share, versus 19.8 million, 2.06 previously. revenue rose to 355.9 million from 342.5 million.
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