Before Thursday’s opening bell, a number of big name, dividend paying companies announced their quarterly earnings. Below, we look at these earnings reports and break down the important points for investors.
Hormel Foods Beats EPS Estimates
Hormel Foods (HRL ) reported first quarter earnings of $171.7 million, or 64 cents per share, up from $153.3 million, or 57 cents per share, last year. Excluding special items, EPS came in at 69 cents – above analysts’ view of 64 cents. Revenue rose 7% to $2.40 billion from $2.24 billion. Analysts expected to see revenue of $2.47 billion.
Looking ahead to FY2015, the company expects to see adjusted earnings between $2.50 and $2.60 per share. Analysts expect to see EPS of $2.53.
LINN Energy Posts Q4 Loss
LINN Energy (LINE ) reported a fourth quarter net loss of $155 million, or 47 cents per share, compared to last year’s net loss of $785 million, or $3.15 per share. Revenue came in at $2.2 billion, which beat analysts’ view of $974.37 million.
Cedar Fair Misses EPS Estimates
Cedar Fair (FUN ) reported a fourth quarter net loss of 32 cents per share, compared to last year’s net loss of 37 cents per share. Revenue came in at $160 million, compared to $139 million last year. On average, analysts expected to see a loss of 8 cents per share and $151.77 million in revenue.