Hormel Foods (HRL) Misses Q2 EPS by 1c, Maintains FY Outlook

Hormel Foods (NYSE: HRL) reported Q2 EPS of $0.39, $0.01 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $2.19 billion versus the consensus estimate of $2.23 billion.

GUIDANCE:

Hormel Foods sees FY2017 EPS of $1.65-$1.71.

• "We are maintaining our fiscal 2017 guidance range of $1.65 to $1.71 per share but expect the results at Jennie-O Turkey Store to push our full-year earnings toward the lower end of this range," Snee said. "We expect the pressure on Jennie-O Turkey Store to continue for the remainder of the fiscal year given the oversupply in the turkey industry."
• "Even in this challenging commodity environment, our team is working hard to generate earnings growth by providing customers, consumers, and operators with on-trend, innovative value-added products," Snee said.

For earnings history and earnings-related data on Hormel Foods (HRL) click here.

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