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Hormel Foods: Q1 Earnings Insights

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Benzinga Insights
·1 min read
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Shares of Hormel Foods (NYSE:HRL) rose 0.7% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 8.89% over the past year to $0.41, which were in line with the estimate of $0.41.

Revenue of $2,461,000,000 up by 3.23% from the same period last year, which beat the estimate of $2,370,000,000.

Guidance

Hormel Foods sees FY21 EPS of $1.70-$1.82 and sales of $9.7 billion-$10.3 billion.

Conference Call Details

Date: Feb 18, 2021

View more earnings on HRL

Time: 09:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/hrl/mediaframe/43350/indexr.html

Technicals

Company's 52-week high was at $52.97

52-week low: $39.01

Price action over last quarter: Up 0.69%

Company Profile

Hormel Foods is a protein-focused branded food company. Its brands include its namesake Hormel, Spam, Jennie-O, Dinty Moore, Applegate, Wholly Guacamole, and Skippy. The vast majority of the company's revenue is U.S.-based: 67% U.S. retail, 26% U.S. food service, and 7% international. By product type, in fiscal 2020 22% of revenue was shelf-stable foods, 20% was poultry (branded and commodity), 55% was other perishable food, and 3% was other, primarily nutritional products. The company holds the number-one market position in shelf-stable meat, shelf-stable ready meals, pepperoni, natural/organic deli meat, guacamole, and the number-two position in turkey, bacon, chilled ready meals, and peanut butter.

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