US stocks are seen starting higher after a finish in the red on Wednesday.
The firm posted net income of US$309mln, or 33 US cents a share, in the quarter, after a loss of US$740mln, or 83 US cents a share, a year earlier.Hormel Foods Corp (NYSE:HRL), which shed 0.06% after hours at US$32.66.
For the first quarter, the firm released a profit that was higher versus the same period last year.
Its bottom line (profit) advanced to US$303.11mln, or US$0.56 per share, which was higher than the US$235.15mln, or $0.44 per share, seen in the same period last year.
It came as shareholder Oakmont Corp decreased its stake in the firm by 2.51%, based on the latest filing.
Oakmont Corp sold 8,316 shares as the company’s stock rose 2.8% with the market, it was reported.
Shares closed yesterday down a tad - 0.01% to US$82.94 each.