Shares of Hormel Foods (NYSE:HRL) rose 0.2% in pre-market trading after the company reported Q2 results.
Earnings per share were down 8.70% year over year to $0.42, which were in line with the estimate of $0.42.
Revenue of $2,422,000,000 rose by 3.28% from the same period last year, which beat the estimate of $2,370,000,000.
Hormel Foods hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
Conference Call Details
Date: May 21, 2020
Time: 09:00 AM
52-week high: $51.53
Company's 52-week low was at $37.00
Price action over last quarter: Up 7.80%
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: 62% U.S. retail, 31% U.S. food service, and 7% international. By product type, 19% of revenue is shelf-stable foods, 19% is poultry (branded and commodity), 57% is other perishable food, and 5% is other, primarily nutritional products. The company holds the number-one market position in turkey, shelf-stable meat, pepperoni, natural/organic deli meat, guacamole, and canned stew and the number-two position in bacon and peanut butter.
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