Hormel Foods Q2: Inline EPS, 4% Sales Decline, Solid H2 Expectation & More
Portfolio Pulse from Shivani Kumaresan
Hormel Foods Corp (NYSE:HRL) reported a 4% YoY decline in Q2 FY23 sales to $2.98 billion, missing the consensus of $3.05 billion. EPS of $0.40 was in-line with analyst expectations. The company reaffirmed its FY23 net sales growth outlook of 1% - 3% and expects EPS of $1.70-$1.82.
June 01, 2023 | 1:01 pm
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Hormel Foods reported a 4% YoY decline in Q2 sales and an EPS of $0.40, in-line with expectations. The company reaffirmed its FY23 outlook, expecting net sales growth of 1% - 3% and EPS of $1.70-$1.82.
Hormel Foods' Q2 sales decline and in-line EPS may not have a significant short-term impact on the stock price, as the company reaffirmed its FY23 outlook. The market may have already priced in the sales decline, and the reaffirmed outlook could provide some stability to the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100