HRL - Hormel Foods Sales Decline In Q2 Misses Expectations With Mixed Segment Performance | Benzinga
Hormel Foods Corp (NYSE:HRL) reported second-quarter fiscal 2024 sales declined 3% year-over-year to $2.887 billion, missing the consensus of $2.967 billion.
Segment Sales YoY: Retail sales declined 6.7%, Foodservice gained 5.7%, and International sales decreased 7.3%.
Total Volume (lbs.) declined 3.6% YoY, With Retail down 5.4%, Foodservice up 2.9% and International down 7.2%.
Adjusted EPS was 38 cents, down from 40 cents YoY and above the consensus of $0.36.
Gross margin expanded 95 basis points YoY to 17.5%. The Operating margin for the ...