Cuts FY sales guidance (Il Sole 24 Ore Radiocor) - New York, 04 Sep - The US food group Hormel said that in the third quarter ended July 28 diluted net earnings per share rose to 0.32 dollars from 0.30 dollar and adjusted diluted net EPS stood at 0.37 dollars.

Net sales fell 2.2% to 2.90 billion dollars.

The 0perating margin was 8.2% and the adjusted operating margin 9.2%.

Cash flow from operations totalled 218 million dollars.

Hormel cut its full-year sales guidance and narrowed the EPS range.

Net sales are now seen at 11.8-12.1 billion dollars, against 12.2-12.5 billion previously.

Diluted net EPS are seen coming in at 1.45-1.51 dollars, against a prior range of 1.45-1.55 dollars, and adjusted diluted net EPS range at 1.57-1.63 dollars, compared with 1.55-1.65 dollars previously.

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(RADIOCOR) 04-09-24 19:25:09 (0582) 5 NNNN