Hormel Foods Corp. came out with its third-quarter earnings, which rose 13%. For the quarter ending July 29th, earnings per share came in at 41 cents, up from 36 cents a year ago. This exactly matched analyst predictions. Hormel’s reported profit was $111.2 million, while sales rose to $2 billion, up 5.1%. Hormel is the company of Spam and Dinty Moore stew. Over the past three years, its revenue has been growing as consumers choose to cut costs and eat at home more frequently. However, rising commodities costs, along with shoppers’ refusals to pay higher prices, have kept the company’s profits from skyrocketing. Hormel’s stock is up 1.37%, at $28.81.
