Hormel's Profit Surprise Amidst Challenges

Hormel Foods Q3 earnings showed adjusted EPS of $0.32, surpassing analysts expectations, despite revenue falling short. Profit was challenged due to higher commodity costs and supply chain issues. Protein-focused brands like Jennie-O and Planters helped, but a product recall and facility fire impacted results. Sales volumes dropped by 1.8%. Hormel forecasts adjusted EPS of $1.47 for FY2026, above estimates, expecting improved results from enhanced marketing, cost savings, and relief in pork costs.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.