BUZZ-Hormel Foods falls on quarterly profit miss
ReutersFeb 27, 2025 3:42 PM
Packaged food company Hormel Foods' HRL.N shares down 3.2% at $27.8
Company earns 35 cents per share on an adjusted basis in the first quarter; misses analysts' estimate of 38 cents per share, according to data compiled by LSEG
"The first quarter was pressured as we continued to recover from the snack nuts supply disruption and lapped a full year of whole bird turkey market compression" - CEO Jim Snee
Co's total volumes fell 4.2% in the quarter from a year ago
Quarter's selling, general and administrative costs rose about 7% to 475.2 million
HRL stock fell 2.3% in 2024
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