Recap: Hormel Foods Q4 Earnings

Hormel Foods HRL reported its Q4 earnings results on Wednesday, November 29, 2023 at 06:30 AM.

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

Hormel Foods missed estimated earnings by 6.67%, reporting an EPS of $0.42 versus an estimate of $0.45.

Revenue was down $85.00 million from the same period last year.

Last quarter the company missed on EPS by $0.01 which was followed by a 0.49% drop in the share price the next day.

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

Quarter	Q3 2023	Q2 2023	Q1 2023	Q4 2022
EPS Estimate	0.41	0.4	0.45	0.50
EPS Actual	0.40	0.4	0.40	0.51
Revenue Estimate	3.05B	3.05B	3.07B	3.38B
Revenue Actual	2.96B	2.98B	2.97B	3.28B

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 FY 2024, expecting earnings between $1.51 and $1.65 per share.

To track all earnings releases for Hormel Foods visit their earnings calendar here.

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

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