Hormel (HRL) Misses on Q2 Earnings and Revenues
Minnesota, Austin-based Hormel Foods Corporation HRL is a prominent meat products firm, conducting trade in the global consumer goods sector. The company sells superior-branded high-quality convenient, nutritious and flavorful edible products to its global customers. HRL shares high brand value in the market but is also exposed to certain risks of external market uncertainties.
Currently, HRL has a Zacks Rank #3 (Hold) but that could change following its second-quarter fiscal 2017 (ended Apr 30, 2017) earnings report which has just released.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: HRL miss on earnings. Adjusted earnings per share came in at 39 cents per share, a penny lower than the the Zacks Consensus Estimate of 40 cents.
Revenue: Revenues of $2,187.3 million came below the Zacks Consensus Estimate of $2,222 million.
Key Stats: HRL has reaffirmed its full-year fiscal 2017 earnings guidance within the $1.65 -$1.71 per share range. However, the company perceives that weak performance of its Jennie-O Turkey Store business segment might push the actual fiscal earnings towards the lower end of the anticipated range. Lower turkey prices, increasing operating expenses and pricing pressure on competing proteins are expected to weigh over the segment’s profitability in the upcoming quarters of the current fiscal year. However, the company is poised to grow on the back of its balanced business model.
Stock Price: As of May 24, 2017, HRL’s closed the trading session at $35.40 per share.
Hormel Foods Corporation Price
Hormel Foods Corporation Price | Hormel Foods Corporation Quote
Shares price did not show any movement in the pre-market trading session.
Check back later for our full write up on this HRL earnings report later!
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