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Recap: Hormel Foods Q3 Earnings

Benzinga Insights
·1 min read

Shares of Hormel Foods (NYSE:HRL) rose 2.4% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were unchanged 0.00% year over year to $0.37, which beat the estimate of $0.34.

Revenue of $2,381,000,000 higher by 3.93% year over year, which beat the estimate of $2,370,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Hormel Foods hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Aug 25, 2020

View more earnings on HRL

Time: 10:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/hrl/mediaframe/39652/indexr.html

Technicals

Company's 52-week high was at $52.97

52-week low: $39.01

Price action over last quarter: Up 10.80%

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: 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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