Hormel's Q3 Earnings: Upside Potential

Hormel, a major player in the packaged food industry, is set to reveal its latest earnings this Thursday. Last quarter, the company saw a 4.6% year-over-year revenue increase, but missed estimates for operating income and EBITDA. Analysts predict a 3.6% revenue growth for this quarter, reaching $3.25 billion, and adjusted earnings of $0.31 per share. Hormel has a history of missing revenue predictions, so investors are closely watching. Competitors like J and J Snack Foods saw a 3.9% revenue drop, while SunOpta reported a 16.6% increase. Hormels shares have risen nearly 8% in the past month, with a potential upside as the average analyst price target is $26.69, below its current price of $23.19.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.