Hormel Foods Hosts Student Winners of its 13th Annual Dr. Martin Luther King Jr. Essay Contest

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Hormel Foods (HRL) rises after topping earnings, revenue expectations

February 29, 2024 9:08 AM EST

Hormel Foods (NYSE: HRL) reported a first-quarter adjusted EPS of $0.41, surpassing the consensus estimate by $0.07. The company's revenue also exceeded expectations, coming in at $3 billion against the anticipated $2.92 billion. The stock responded positively to the news, jumping 8% as investors reacted to the earnings and revenue beat.

The company experienced a 4% increase in volume, leading to a 1% rise in net sales compared to the same period last year. Despite a slight dip of 2% in operating income, the adjusted operating income showed a 2% improvement. This performance... More