Recap: Hormel Foods Q1 Earnings

Hormel Foods HRL reported its Q1 earnings results on Tuesday, March 1, 2022 at 06:30 AM.

Here's what investors need to know about the announcement.

Hormel Foods reported in-line EPS of $0.44 versus an estimate of $0.44.

Revenue was up $583.00 million from the same period last year.

Last quarter the company beat on EPS by $0.01 which was followed by a 2.68% increase in the share price the next day.

Here's a look at Hormel Foods's past performance:

Quarter	Q4 2021	Q3 2021	Q2 2021	Q1 2021
EPS Estimate	0.50	0.40	0.41	0.41
EPS Actual	0.51	0.39	0.42	0.41
Revenue Estimate	3.22B	2.65B	2.42B	2.37B
Revenue Actual	3.46B	2.86B	2.61B	2.46B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Hormel Foods management provided guidance for their next quarter, expecting earnings between $1.87 and $2.03 per share for the next quarter.

This represents a 343.18% in quarter-over-quarter growth for Hormel Foods, a bullish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.