Benzinga | May 20, 2021 07:05AM EDT

Recap: Hormel Foods Q2 Earnings



Shares of Hormel Foods (NYSE:HRL) moved higher by 0.2% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 0.00% year over year to $0.42, which beat the estimate of $0.41.

Revenue of $2,607,000,000 up by 7.64% from the same period last year, which beat the estimate of $2,420,000,000.

Looking Ahead

The upcoming fiscal year's EPS expected to be between $1.70 and $1.82.

The upcoming fiscal year's revenue expected to be between $10,200,000,000 and $10,800,000,000.

Conference Call Details

Date: May 20, 2021

Time: 09:00 AM

ET Webcast URL: https://services.choruscall.com/mediaframe/webcast.html?webcastid=zISuqbQE

Price Action

Company's 52-week high was at $52.97

Company's 52-week low was at $43.45

Price action over last quarter: down 2.23%

Company Profile

Hormel Foods is a protein-focused branded food company. Its brands include its namesake Hormel, Spam, Jennie-O, Dinty Moore, Applegate, Wholly Guacamole, and Skippy. The vast majority of the company's revenue is U.S.-based: 67% U.S. retail, 26% U.S. food service, and 7% international. By product type, in fiscal 2020 22% of revenue was shelf-stable foods, 20% was poultry (branded and commodity), 55% was other perishable food, and 3% was other, primarily nutritional products. The company holds the number-one market position in shelf-stable meat, shelf-stable ready meals, pepperoni, natural/organic deli meat, guacamole, and the number-two position in turkey, bacon, chilled ready meals, and peanut butter.