Hormel Foods Corporation (NYSE: HRL) reported its second quarter 2024 earnings results today.
Net sales decreased 3% year-over-year to $2.89 billion.
Net earnings attributable to Hormel Foods Corporation were $189.2 million, or $0.34 per share, compared to $217.2 million, or $0.40 per share, last year. Adjusted EPS was $0.38.
Earnings beat estimates while revenue fell short.
For fiscal year 2024, the company expects net sales of $12.2-12.5 billion and adjusted EPS of $1.55-1.65.
The stock gained over 1% in premarket hours on Thursday.
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