Hormel Foods (HRL) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.40 per share a year ago.
Hormel Foods beat market expectations for second-quarter profit on Thursday and raised the lower end of its full-year earnings as the Wholly dips maker sees steady demand for higher-priced meat products.
Shares of Hormel Foods Corp. HRL, -1.73% headed 2.6% higher in premarket trading Thursday, after the food company, which has brands including Skippy, Spam, Dinty Moore and La Victoria, beat fiscal second-quarter profit expectations and raised its full-year outlook, even as sales fell shy. Net income for the quarter to April 28 declined to $189.3 million, or 34 cents a share, from $217.2 million, or 40 cents a share, in the year-ago period.
Hormel Foods' (HRL) second-quarter results are likely to reflect gains from strategic priorities and strength in the Foodservice business, while advertising costs are expected to escalate.
Get a deeper insight into the potential performance of Hormel (HRL) for the quarter ended April 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
Hormel (HRL) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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