RTTNews | Feb 18, 2021 06:42AM EST

06:41 Thursday, February 18, 2021 (RTTNews.com) - While reporting financial results for the first quarter of fiscal 2021 on Thursday, branded food company Hormel Foods Corp. (HRL) initiated earnings and net sales guidance for the full-year 2021, which is in line with analysts' estimates.

The company said the guidance does not include the expected impact from the recently announced acquisition of the Planters snack nuts business of Kraft Heinz Co.

For fiscal 2021, the company now projects earnings in a range of $1.70 to $1.82 per share on net sales between $9.70 billion and $10.30 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.73 per share on net sales of $9.96 billion for the year. Analysts' estimates typically exclude special items.

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