Hormel Foods Corporation (HRL) delivered third-quarter fiscal 2024 results, wherein the top and bottom lines declined year over year. Net sales missed the Zacks Consensus Estimate. The company has reduced its fiscal 2024 net sales outlook due to weaker-than-expected commodity markets, production disruptions at the Suffolk, VA facility and declines in the contract manufacturing sector. Management also narrowed its earnings guidance range. HRL's Quarterly Results: Key Metrics & Insights Hormel Foods' adjusted ...

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Core Viewpoint - Hormel Foods reported a revenue of $2.9 billion for the quarter ended July 2024, reflecting a year-over-year decline of 2.2% and an EPS of $0.37, down from $0.40 a year ago, with a revenue surprise of -1.94% compared to estimates [1] Revenue Performance - Net Sales - Retail: $1.77 billion, slightly above the average estimate of $1.74 billion, but a year-over-year decline of 6.6% [3] - Net Sales - International: $177.17 million, below the average estimate of $191.40 million, representing a year-over-year decline of 1.9% [4] - Net Sales - Foodservice: $954.02 million, below the average estimate of $980.45 million, but a year-over-year increase of 7.1% [5] Segment Profit Analysis - Segment Profit - Foodservice: $142.49 million, lower than the estimated $154.64 million [6] - Segment Profit - International: $21.79 million, slightly above the estimated $21.03 million [7] - Segment Profit - Retail: $127.93 million, significantly higher than the estimated $101.91 million [8] Stock Performance - Hormel shares have returned +4.2% over the past month, outperforming the Zacks S&P 500 composite's +3.6% change, with a current Zacks Rank of 3 (Hold) indicating potential performance in line with the broader market [8]

Hormel Foods (HRL) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.36 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 2.78%. A quarter ago, it was expected that this maker of Spam canned ham, Dinty Moore stew and other foods would post earnings of $0.35 per share when it actually produced earnings of $0.38, delivering a surprise of 8 ...

Core Insights - Hormel Foods is promoting National Pepperoni Pizza Day on September 20, encouraging fans to take "Pepperoni Time Off" to indulge in their favorite pepperoni pizza [1][3][5] - The campaign includes a sweepstakes for a chance to win the Ultimate HORMEL® Pepperoni Pizza Vacation to New York City or Chicago during National Pizza Month in October [2][4] Company Overview - Hormel Foods Corporation, based in Austin, Minnesota, generates over $12 billion in annual revenue and operates in more than 80 countries [8] - The HORMEL® Pepperoni brand is the number one selling pepperoni brand in the United States, recognized for its quality and flavor [7] Marketing Strategy - The campaign aims to engage consumers by allowing them to declare their intention to take time off work to enjoy HORMEL® Pepperoni pizza, promoting social sharing through the hashtag PepperoniTimeOff [4][5] - Hormel Foods emphasizes the unique offerings of HORMEL® Pepperoni, including various shapes and flavors, to cater to diverse consumer preferences [5][7]

Hormel Foods Corporation HRL is set to release earnings results for its third quarter, after the closing bell on Wednesday, Sept. 4. Some investors may be eyeing potential gains from the company's dividends too. As of now, Hormel Foods offers an annual dividend yield of 3.47%. That's a quarterly dividend amount of 28.25 cents per share ($1.13 a year). So, how can investors exploit its dividend yield to pocket a regular $500 monthly? To earn $500 per month or $6,000 annually from dividends alone, you would n ...

Starting on Sept. 16, fans can purchase this 'baconic' collaboration at select retailers nationwide AUSTIN, Minn., Sept. 3, 2024 /PRNewswire/ -- The makers of HORMEL® BLACK LABEL® Bacon are introducing the category's first-ever co-branded bacon in partnership with CINNAMON TOAST CRUNCH™ cereal, and the combination of sweet and salty never tasted better. The limited-edition product delivers a crisp, sugary crust with a delicious balance of cinnamon, sugar, salt and savory bacon taste. CINNADUST™ seasoning bl ...

Hormel Foods Corporation (HRL) is likely to register a top and bottom-line decline when it reports thirdquarter fiscal 2024 earnings on Sep. 4. The Zacks Consensus Estimate for revenues is pegged at $2.96 billion, which suggests a decrease of 0.3% from the prior-year quarter's reported figure. The consensus mark for quarterly earnings has remained unchanged in the past 30 days at 36 cents per share. This indicates a decline of 10% from the year-ago quarter's reported figure. HRL has a trailing four-quarter ...

The upcoming report from Hormel Foods (HRL) is expected to reveal quarterly earnings of $0.36 per share, indicating a decline of 10% compared to the year-ago period. Analysts forecast revenues of $2.96 billion, representing a decrease of 0.3% year over year. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Before a company reveals its earnings, it is v ...

ac_bnphotos/E+ via Getty Images Introduction Hormel Foods Corporation (NYSE:HRL), with deep roots in the field of fresh meat processing (the company has been in existence since 1891), has, in recent decades, been building a name for itself in the manufacturing and distribution of packaged, consumer food products across the globe. Besides its core competence in supplying branded foods to both the retail and food service segments, it has also developed ample credibility on Wall Street for its relentless fidel ...