Hormel Foods Corporation (NYSE: HRL) is scheduled to report second quarter 2019 earnings results on Thursday, May 23, before market open. Analysts expect revenue to increase 2% to $2.3 billion and earnings to improve 2.3% to $0.45 per share on a year-over-year basis.
For the second quarter, Hormel can be expected to benefit from strength in its refrigerated foods and grocery products segments. However, weakness in the turkey business is likely to weigh on the topline results for the period. The company’s bottom line results are likely to be pressured by higher costs.
During the quarter, Hormel sold its CytoSport business to PepsiCo Inc. (NASDAQ: PEP) for $465 million. It will be worth watching if the company has any new plans or strategies following this divestment.
In the first quarter, Hormel reported earnings that matched expectations while revenues fell short. Net sales grew 1.2% to $2.36 billion while EPS fell 21% to $0.44. The company recorded sales increases in all its segments except Jennie-O Turkey Store, which remained flat.
For full-year 2019, Hormel expects sales to come in the range of $9.70 billion to $10.20 billion and EPS to be in the range of $1.77 to $1.91. The company expects to incur capital expenditures of around $350 million during the year.
Hormel’s shares have dropped over 5% so far this year. The majority of analysts have rated the stock as Hold.
Most Popular
Infographic: Key metrics from Estee Lauder’s (EL) Q3 2024 earnings results
The Estee Lauder Companies Inc. (NYSE: EL) reported its third quarter 2024 earnings results today. Net sales were $3.94 billion, up 5% from the prior-year quarter. Organic sales increased 6%.
YUM Earnings: Key quarterly highlights from Yum! Brands’ Q1 2024 financial results
Yum! Brands, Inc. (NYSE: YUM) reported first quarter 2024 earnings results today. Total revenues decreased 3% year-over-year to $1.59 billion. Same-store sales declined 3%. Net income increased 5% to $314
Pfizer (PFE) Q1 2024 Earnings: Key financials and quarterly highlights
Pfizer Inc. (NYSE: PFE) reported first quarter 2024 earnings results today. Revenues decreased 20% year-over-year to $14.8 billion. Reported net income declined 44% to $3.1 billion, or $0.55 per share,