Market Overview

Hormel Foods Trades Higher On Q3 Earnings Beat

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Hormel Foods (NYSE: HRL) shares are trading higher after the company reported better-than-expected third-quarter EPS and sales results.

The company also reaffirmed 2020 EPS and sales guidance above analyst estimates.

Hormel Foods reported third-quarter earnings of 37 cents per share, which beat the analyst consensus estimate of 36 cents. This is a 5.13% decrease over earnings of 39 cents per share from the same period last year.

The company reported quarterly sales of $2.291 billion, which beat the analyst consensus estimate of $2.29 billion. This is a 2.88% decrease over sales of $2.359 billion the same period last year.

Hormel Foods share were trading up 3.5% at $42.41 in Thursday’s pre-market session. The stock has a 52-week high of $46.26 and a 52-week low of $36.25.

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