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Hormel Shareholder's Meeting: 2012 "Very Successful"

Posted at: 01/30/2013 12:57 PM
Updated at: 01/30/2013 12:58 PM

(ABC 6 News) - Hormel says 2012 was a very successful year.

Hormel made the announcement at its annual shareholder's meeting Tuesday night. Hundreds of people packed the auditorium at Austin High School for a review of the company's operations. Hormel officials say the company saw record sales in 2012, bringing in roughly $8.2 billion.

They say the company saw success in all of its major sectors, including its acquisition of Skippy peanut butter.

     "We were happy that five, all five of our business segments grew sales this year, so we're serving more and more meals with consumers when sales increase, and four out of five grew earnings, so overall a really fine year," says C.E.O., Jeffery Ettinger.

Shareholders seemed pleased with those numbers as well. Hormel increased earnings per share by 7 percent over 2011.