Hormel Foods up after annual profit forecast above estimates

Hormel Foods

04/12/2025 15:40

Updates

** Shares of Skippy peanut butter maker Hormel Foods  rise as much as 8.72% to $25.30, highest since September 17

** Co forecast annual profit above estimates, betting on its cost-cutting plan, higher prices and sustained demand for turkey

** Expects FY2026 adjusted EPS between $1.43 and $1.51, with the midpoint above analysts' average estimate of $1.45, as per data compiled by LSEG

** Reports Q4 adjusted profit of 32 cents per share vs. estimates of 30 cents per share

** Also logs quarterly net sales of $3.19 billion, compared with $3.14 billion a year ago

**  Stock set for its best day since May 15, if gains hold

** Up to last close, stock down nearly ~26% YTD

 (Reporting by Sanskriti Shekhar in Bengaluru)

 ((Sanskriti.Shekhar@thomsonreuters.com))