Summary Box: Hormel net income up 11 percent in 3Q on sales of Hormel Chili, other products

Summary Box: Hormel 3Q net income rises

THE QUARTER: Higher sales of grocery products such as Spam and Dinty Moore helped push Hormel Foods Corp.’s third-quarter profit up 10 percent, even though it is facing higher commodity costs.

THE CONTEXT: Hormel, like many food makers, has been dealing with rising prices for grain and other commodities. Also, the meat industry is slowly recovering after a downturn brought on by high ingredient costs and low selling prices because of oversupply and weak demand.

THE OUTLOOK: Hormel raised its full-year guidance based on the better-than expected quarterly results.