Hormel Foods is a reputable food processing company known for producing a diverse range of products including meats, savory snacks, and refrigerated foods
The company is recognized for its commitment to quality and innovation, offering famous brands that cater to various consumer preferences and dietary needs. Hormel Foods not only focuses on manufacturing a wide array of products such as deli meats, bacon, and chili, but it also prioritizes sustainability and responsible sourcing in its operations. Through its extensive distribution networks, the company serves both retail and food service sectors, making it a key player in the global food industry.
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The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how shelf-stable food stocks fared in Q3, starting with Hormel Foods (NYSEHRL).
Since June 2024, Hormel Foods has been in a holding pattern, posting a small return of 4% while floating around $31.42. The stock also fell short of the S&P 500’s 9.7% gain during that period.
Packaged foods company Hormel (NYSEHRL) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell by 1.9% year on year to $3.14 billion. On the other hand, the company’s full-year revenue guidance of $12.05 billion at the midpoint came in 1.6% below analysts’ estimates. Its non-GAAP profit of $0.42 per share was in line with analysts’ consensus estimates.
