Hormel Foods Q2 Operating Income Misses Estimates by 18%, Despite Sales Beat
HRL is trading near its 52-week low of $19.7 (7.1% above the low).
Summary
Hormel Foods reported Q2 sales of $2.97 billion, slightly exceeding the IBES estimate of $2.954 billion. However, the company's operating income significantly missed expectations, coming in at $217 million against an estimate of $265.9 million, an over 18% miss. Pretax profit also fell short at $206 million compared to the $254.6 million estimate. The company reported Q2 EPS of $0.29 and provided a full-year EPS outlook of $1.28-$1.37. The substantial misses on key profit metrics are likely to be the primary focus for investors, overshadowing the modest sales beat.
At the time of this announcement, HRL was trading at $21.10 on NYSE in the Manufacturing sector, with a market capitalization of approximately $11.5B. The 52-week trading range was $19.70 to $31.86. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.