Minnesota, Austin-based Hormel Foods Corporation (HRL - Free Report) is a prominent meat products firm, conducting trade in the global consumer goods sector. The company sells superior-branded high-quality convenient, nutritious and flavorful edible products to its global customers. HRL shares high brand value in the market but is also exposed to certain risks of external market uncertainties.
Currently, HRL has a Zacks Rank #3 (Hold) but that could change following its fourth-quarter fiscal 2016 earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: HRL miss on earnings. Adjusted earnings per share came in at 45 cents per share, a penny lower than the Zacks Consensus Estimate of 46 cents.
Revenue: Revenues of $2,627.9 million came above the Zacks Consensus Estimate of $2,625 million.
Key Stats: HRL anticipates to accrue organic sales growth of 5% in fiscal 2017. After eliminating the earnings of 3 cents per share from the Farmer John divestiture, HRL anticipates earnings within the range of $1.68-$1.74 per share in fiscal 2017.
Stock Price: As of Nov 21, 2016, HRL’s closed the trading session at $34.94 per share.
Shares price did not show any movement in the pre-market trading session.
Check back later for our full write up on this HRL earnings report later!
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