Hormel Foods: Q3 Earnings Insights

Hormel Foods: Q3 Earnings Insights

 

Hormel Foods HRL reported its Q3 earnings results on Thursday, September 1, 2022 at 06:30 AM.

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

Earnings

Hormel Foods missed estimated earnings by 2.44%, reporting an EPS of $0.40 versus an estimate of $0.41.

Revenue was up $170.00 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.01 which was followed by a 1.4% drop in the share price the next day.

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

 

Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021
EPS Estimate 0.47 0.44 0.50 0.40
EPS Actual 0.48 0.44 0.51 0.39
Revenue Estimate 3.07B 2.93B 3.22B 2.65B
Revenue Actual 3.10B 3.04B 3.46B 2.86B

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).

Guidance

Hormel Foods management provided guidance for FY 2022, expecting earnings between $1.78 and $1.85 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.

Posted In: BZI-RecapsEarningsNews