Hormel Hands Out Profit Sharing Checks

Austin-based Hormel Foods today carried out a welcome tradition as it handed out annual profit sharing checks to eligible hourly and salaried employees.  This year’s total is nearly $17.4 million.  The total last year was $17 million.

The Thanksgiving Eve Day tradition was started by Jay C. Hormel in 1938.

Yesterday, Hormel reported record sales and earnings for its most recent fiscal year.

For the year ended October 26, 2014, net earnings were a record $602.7 million, up 15 percent from net earnings of $526.2 million last year.

Diluted net earnings per share were $2.23, up 14 percent from diluted net earnings per share of $1.95 last year.

Sales for the year ended October 26, 2014, totaled a record $9.3 billion, up 6 percent from last year.

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