Hormel Foods up after quarterly sales, profit beat

Hormel Foods

28/05/2026 15:35

Updates
** Shares of Skippy peanut butter maker Hormel Foods HRL.N up as much as 10.1% at $23.07

    ** Stock set for its best day in more than two years if gains hold
  
** Co beats Q2 sales and profit estimates, helped by sustained demand for its turkey and chicken products 

    ** "While consumers are under pressure and sentiment is low, food has remained resilient in recent months, particularly with growth in protein, where our portfolio is well positioned" - President John Ghingo in post earnings call
  
** Reports quarterly net sales of $2.97 billion vs. analysts' estimates of $2.95 billion, according to data compiled by LSEG
** Logs adjusted EPS of 40 cents, beating expectations of 36 cents 
** Reaffirms FY2026 net sales and adjusted EPS forecast
** As of last close, HRL down about 12% YTD

(Reporting by Sanskriti Shekhar in Bengaluru)
((Sanskriti.Shekhar@thomsonreuters.com))