HRL - Hormel Foods Predicts Earnings Impact From Lower Turkey Markets & Softness In China Business In H1: Details | Benzinga
Hormel Foods Corp (NYSE: HRL) reported a fourth-quarter FY23 sales decline of 2.6% year-on-year to $3.198 billion, missing the analyst consensus estimate of $3.264 billion.
Segment Sales: Retail sales declined 4%, Foodservice gained 2%, and International sales decreased 12%.
Adjusted EPS of $0.42 missed the consensus estimate of $0.44.
Gross margin contracted 120 basis points Y/Y to 16.1%. The operating margin was ...