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Hormel Foods Q2 Earnings Beat Estimates

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Hormel Foods (NYSE: HRL) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 8.57%. A quarter ago, it was expected that this maker of Spam canned ham, Dinty Moore stew and other foods would post earnings of $0.34 per share when it actually produced earnings of $0.41, delivering a surprise of 20.59%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Hormel, which belongs to the Zacks Food – Meat Products industry, posted revenues of $2.89 billion for the quarter ended April 2024, missing the Zacks Consensus Estimate by 3.35%. This compares to year-ago revenues of $2.98 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on …

Full story available on Benzinga.com

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