Hormel Foods Corporation (NYSE: HRL) Wednesday reported a decline in sales for the fourth quarter of 2024. The results came in line with analysts’ estimates.
Adjusted earnings remained unchanged at $0.42 per share in the fourth quarter, in line with Wall Street’s forecast. Net income attributable to the company was $220.2 million or $0.40 per share, compared to $195.9 million or $0.36 per share in the year-ago quarter.
Net sales decreased modestly to $3.14 billion in the October quarter from $3.20 billion in the comparable period in fiscal 2023. The latest number matched analysts’ estimates. For fiscal 2025, the management expects net sales to be in the range of $11.9 billion to $12.2 billion and sees full-year organic sales growth of 1- 3%.