Hormel Foods Earnings: Everything You Must Know Now

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Hormel Foods Corp. (NYSE:HRL) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Hormel Foods Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 4.17% to $0.46 in the quarter versus EPS of $0.48 in the year-earlier quarter.

Revenue: Rose 6.95% to $2.15 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Hormel Foods Corp. reported adjusted EPS income of $0.46 per share. By that measure, the company missed the mean analyst estimate of $0.49. It missed the average revenue estimate of $2.19 billion.

Quoting Management: “We were pleased to deliver sales and volume growth, despite harvest reductions in both our Refrigerated Foods and Jennie-O Turkey Store operations. In terms of operating profits, improved results by our Specialty Foods, Grocery Products, and International & Other segments did not fully offset weaker results by our Jennie-O Turkey Store segment. Our earnings were also impacted by non-recurring costs related to our acquisition of the SKIPPY® peanut butter business in the amount of $9 million. Overall, earnings per share of $0.46 during the quarter keep us on track to maintain our full year guidance,” said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer.

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