Hormel Foods (NYSE: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.
Earnings
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.
Past Earnings Performance
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).
Guidance
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.
