Hormel Foods drops after trimming annual sales forecast, Q3 sales miss

Hormel Foods

27/08/2026 11:26

* Shares of Skippy peanut butter maker Hormel Foods HRL.N down about 2% at $23.34 premarket
** Co cuts annual sales forecast and misses Q3 sales estimates; cites lower commodity linked pricing and continued pressure on consumer spending
** Sees annual net sales of $12.1 billion to $12.2 billion, vs. prior projection of $12.2 billion to $12.5 billion
** Expects annual adjusted EPS of $1.45 to $1.51, vs. previous forecast of $1.43 to $1.51
** Q3 net sales comes in at $2.96 billion, missing analysts' estimates of $3.04 billion - data compiled by LSEG
**Q3 adjusted EPS stands at 37 cents, beating estimates of 35 cents
** As of last close, stock marginally up YTD

(Reporting by Koyena Das from Bengaluru)
((Koyena.das@thomsonreuters.com))