Hormel Foods Q4 Adj EPS $0.42 Misses $0.45 Estimate, Sales $3.20B Miss $3.27B Estimate
Portfolio Pulse from Benzinga Newsdesk
Hormel Foods Corporation reported Q4 adjusted earnings of $0.42 per share, falling short of the $0.45 consensus estimate, a 17.65% year-over-year decrease. Sales were $3.20B, also below the expected $3.27B, marking a 2.59% decline from the previous year.
November 29, 2023 | 11:32 am
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Hormel Foods missed Q4 earnings and sales estimates, with a significant decrease in earnings per share and a slight decline in sales compared to last year.
Missing both earnings and sales estimates typically leads to negative investor sentiment and can result in a short-term decline in stock price. The year-over-year decrease in earnings and sales further compounds the potential negative impact on Hormel Foods' stock.
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