Hormel Foods Lowers FY23 Outlook: Adj. EPS $1.61 - $1.67 Down From $1.70 - $1.82 Prior, Vs. $1.73 Estimate. GAAP EPS $1.51 - $1.57
Portfolio Pulse from Benzinga Newsdesk
Hormel Foods has lowered its FY23 outlook, with adjusted EPS now expected to be $1.61 - $1.67, down from the previous estimate of $1.70 - $1.82. The company expects modest volume growth in Q4, net sales between $3.1 billion and $3.6 billion, and diluted net earnings per share to be down from last year.
August 31, 2023 | 10:37 am
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Hormel Foods has lowered its FY23 outlook, which could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price.
Hormel Foods has lowered its FY23 outlook, which indicates that the company is not performing as well as previously expected. This could negatively impact investor sentiment and lead to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100