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The maker of Spam announced a quarterly profit that rose from last year and topped the expectation of market analysts. The company also said its full-year results will match its more optimistic forecasts.
The stock is trading at $33.13 at about 8:45 am Eastern Time. This is up from Wednesday's close of $32.95.
The company reported second quarter net earnings of $80.4 million, or $0.59 per share, up from $77.6 million, or $0.56 per share, a year earlier.
Analysts had expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $1.60 billion, compared to $1.59 billion last year.
The company now expects full year earnings to be upper end of its previously announced guidance range of $2.15 to $2.25 per share.
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