Shares of Hormel Foods HRL rose 0.7% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share fell 8.89% over the past year to $0.41, which were in line with the estimate of $0.41.
Revenue of $2,461,000,000 up by 3.23% from the same period last year, which beat the estimate of $2,370,000,000.
Guidance
Hormel Foods sees FY21 EPS of $1.70-$1.82 and sales of $9.7 billion-$10.3 billion.
Conference Call Details
Date: Feb 18, 2021
Time: 09:00 AM
ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/hrl/mediaframe/43350/indexr.html
Technicals
Company's 52-week high was at $52.97
52-week low: $39.01
Price action over last quarter: Up 0.69%
Company Profile
Hormel Foods is a protein-focused branded food company. Its brands include its namesake Hormel, Spam, Jennie-O, Dinty Moore, Applegate, Wholly Guacamole, and Skippy. The vast majority of the company's revenue is U.S.-based: 67% U.S. retail, 26% U.S. food service, and 7% international. By product type, in fiscal 2020 22% of revenue was shelf-stable foods, 20% was poultry (branded and commodity), 55% was other perishable food, and 3% was other, primarily nutritional products. The company holds the number-one market position in shelf-stable meat, shelf-stable ready meals, pepperoni, natural/organic deli meat, guacamole, and the number-two position in turkey, bacon, chilled ready meals, and peanut butter.
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