Hormel Foods falls after Q4 profit forecast cut; announces CFO change

Shares of Skippy peanut butter maker Hormel Foods down about 7% at $22.56

Co now expects a reduction of 8 cents to 9 cents in Q4 adjusted EPS forecast from earlier range of 38 cents to 40 cents

Co says it faces persistent, higher-than-expected inflation in key commodity inputs

HRL also hit by the spread of highly pathogenic avian influenza (HPAI) and pneumoviruses within the poultry industry

Still, co expects fourth-quarter net sales growth near the top end of its prior guidance

Co also appoints Paul Kuehneman as interim CFO, effective October 27, as Jacinth Smiley steps down

Up to last close, stock down nearly 29.2% YTD