Compared to Estimates, Hormel (HRL) Q3 Earnings: A Look at Key Metrics

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]