Hormel Foods Q4 Outlook: Revenue $3.1B - $3.6B Vs. $3.43B Estimate, Adj. EPS To Fall YoY
Portfolio Pulse from Benzinga Newsdesk
Hormel Foods has provided its Q4 outlook, expecting revenues between $3.1B and $3.6B, compared to the $3.43B estimate. The company anticipates modest volume growth, particularly from the Foodservice segment, and a recovery in turkey and improved fill rates in key categories. However, it expects Q4 net earnings per share to fall YoY due to weakness in the International segment and lower Retail segment results.
August 31, 2023 | 10:35 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Hormel Foods expects Q4 revenues to be in line with estimates, but anticipates a YoY decrease in net earnings per share. This is due to weakness in the International segment and lower Retail segment results.
Hormel Foods' Q4 outlook indicates that while revenues are expected to be in line with estimates, the company anticipates a decrease in net earnings per share YoY. This is likely to negatively impact the stock price in the short term as it indicates lower profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100