Hormel Foods: Q2 Earnings Insights - Hormel Foods (NYSE:HRL)

Hormel Foods HRL reported its Q2 earnings results on Thursday, June 1, 2023 at 06:30 AM.

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

Hormel Foods reported in-line EPS of $0.4 versus an estimate of $0.4.

Revenue was down $120.00 million from the same period last year.

Last quarter the company missed on EPS by $0.05 which was followed by a 2.87% drop in the share price the next day.

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

Quarter	Q1 2023	Q4 2022	Q3 2022	Q2 2022
EPS Estimate	0.45	0.50	0.41	0.47
EPS Actual	0.40	0.51	0.40	0.48
Revenue Estimate	3.07B	3.38B	2.98B	3.07B
Revenue Actual	2.97B	3.28B	3.03B	3.10B

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 2023, expecting earnings between $1.7 and $1.82 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.