Hormel Foods, the company that makes Skippy peanut butter, had a tough start to the year. They didn't make as much money as expected. This is because of several things.
- Higher costs for making their products.
- Problems getting Planters nuts to stores because of a food safety issue.
- People buying less turkey and more cheaper meats like beef and chicken.
| Thing | Number/Fact |
|---|---|
| Earnings per share (what they made per share of their company) | 35 cents (lower than expected) |
| Total sales | $2.99 billion (slightly better than expected) |
| Expected yearly earnings | $1.58 to $1.72 per share |
Despite these challenges, Hormel still thinks they will do okay for the rest of the year.
