Hormel Foods Corporation (NYSE:HRL) shares rose after reporting Q1 earnings that exceeded expectations and reaffirming its FY24 outlook. The company posted adjusted earnings per share of 41 cents, surpassing the consensus of 34 cents, with revenues of $2.997 billion against the expected $2.917 billion. Despite a 2% drop in retail net sales, volume increased across various segments, contributing to a 2% year-over-year rise in adjusted operating income. Hormel also maintained its FY24 sales and adjusted EPS forecasts, aligning with or exceeding analyst estimates.