Hormel Foods (NYSE: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:

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.