Hormel Foods reported third-quarter earnings per share of $0.37, exceeding analyst expectations by $0.02, though revenue totaled $2.96 billion, below the $3.05 billion estimate.
The company’s adjusted EPS for the period ended July 26 came in ahead of the $0.35 consensus compiled by Refinitiv, marking a sequential improvement from $0.33 in the prior quarter. Revenue declined 3% year-over-year, reflecting weaker demand across key product categories.
Hormel maintained its fiscal 2026 guidance, projecting adjusted EPS of $1.45 to $1.51 against a consensus of $1.50. The company also forecast full-year revenue of $12.10 billion to $12.20 billion, short of the $12.24 billion consensus.
Shares of Hormel closed at $23.71, up 2.07% over the past three months but down 5.99% over the last 12 months. The stock’s performance has lagged broader food sector peers during the period.
Analysts have revised Hormel’s EPS estimates downward over the past 90 days, with five negative adjustments and one positive revision. InvestingPro rates the company’s financial health as fair performance, reflecting mixed operational trends.
The mixed results underscore ongoing challenges in Hormel’s core markets, including inflationary pressures and shifting consumer preferences.
