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Hormel (HRL) Misses Earnings and Revenue Estimates in Q2
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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.
Currently, HRL has a Zacks Rank #3 (Hold) but that could change following its second-quarter fiscal 2018 (ended April 2018) earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: HRL misses on earnings. Adjusted earnings per share came in at 44 cents per share, a penny lower than the Zacks Consensus Estimate of 45 cents.
Revenue: Revenues of $2,330.6 million came below the Zacks Consensus Estimate of $2,390 million
Key Stats: HRL has reaffirmed its earnings and sales guidance for fiscal 2018 (ending October 2018). The company anticipates to generate revenues within the range of $9.7-$10.1 billion and earnings within $1.81-$1.95 per share for the current fiscal year. Stronger demand for major brands is boosting the HRL’s revenues but ongoing turkey market challenges remains a drag.
Stock Price: At the time of writing, the stock price of HRL was down nearly 0.56% ($35.62) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is negative. We perceive that the company’s weaker-than-expected earnings result has primarily driven the negative sentiment.
As of May 23, 2018, HRL’s closed the trading session at $35.82 per share.
Shares prices 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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Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Hormel (HRL) Misses Earnings and Revenue Estimates in Q2
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.
Currently, HRL has a Zacks Rank #3 (Hold) but that could change following its second-quarter fiscal 2018 (ended April 2018) earnings report which has just released.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: HRL misses on earnings. Adjusted earnings per share came in at 44 cents per share, a penny lower than the Zacks Consensus Estimate of 45 cents.
Revenue: Revenues of $2,330.6 million came below the Zacks Consensus Estimate of $2,390 million
Key Stats: HRL has reaffirmed its earnings and sales guidance for fiscal 2018 (ending October 2018). The company anticipates to generate revenues within the range of $9.7-$10.1 billion and earnings within $1.81-$1.95 per share for the current fiscal year. Stronger demand for major brands is boosting the HRL’s revenues but ongoing turkey market challenges remains a drag.
Stock Price: At the time of writing, the stock price of HRL was down nearly 0.56% ($35.62) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is negative. We perceive that the company’s weaker-than-expected earnings result has primarily driven the negative sentiment.
As of May 23, 2018, HRL’s closed the trading session at $35.82 per share.
Hormel Foods Corporation Price
Hormel Foods Corporation Price | Hormel Foods Corporation Quote
Shares prices 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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>