AUSTIN, Minn. — Hormel Foods Corp. reports its fourth quarter and full-year fiscal 2023 results. All comparisons are to the fourth quarter of fiscal 2022 unless otherwise noted.
Executive summary for fiscal year 2023 includes: Net sales of $12.1 billion. Operating income of $1.1 billion; adjusted operating income1 of $1.2 billion. Operating margin of 8.9 percent; adjusted operating margin1 of 9.8 percent. Earnings before income taxes of $1 billion; adjusted earnings before income taxes1 of $1.1 billion. Effective tax rate of 21.8 percent. Diluted net earnings per share of $1.45; adjusted diluted. . .
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