Hormel Foods Corp Expects FY24 Net Sales Of $11.8B-$12.1B (Prior $12.2B-$12.5B) Vs $12.14B Est, Adj EPS Of $1.57-$1.63 (Prior $1.55-$1.65) Vs $1.60 Est
Portfolio Pulse from Benzinga Newsdesk
Hormel Foods Corp has revised its fiscal year 2024 financial outlook, lowering net sales expectations to $11.8B-$12.1B from $12.2B-$12.5B due to lower commodity markets and production disruptions. Adjusted EPS is now expected to be $1.57-$1.63, slightly narrowed from previous estimates.
September 04, 2024 | 10:08 am
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Hormel Foods has adjusted its FY24 net sales forecast to $11.8B-$12.1B, down from $12.2B-$12.5B, due to lower commodity markets and production disruptions. Adjusted EPS is now $1.57-$1.63, reflecting a slight narrowing of the range.
The downward revision in net sales and the narrowing of the adjusted EPS range suggest potential challenges for Hormel Foods, including lower commodity markets and production disruptions. This could negatively impact investor sentiment in the short term.
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