Shares of Hormel Foods Corp. took 5.1% hit toward a more than 15-month low in premarket trading Thursday, after the branded foods company, with brands...
Shares of Hormel Foods Corp. HRL took 5.1% hit toward a more than 15-month low in premarket trading Thursday, after the branded foods company, with brands including Planters, Skippy, Spam and Natural Choice, reported fiscal first-quarter results that missed expectations, citing inflationary pressures, supply chain inefficiencies and weak sales volumes. Net income for the quarter to Jan. 29 fell to $217.7 million, or 40 cents a share, from $239.
1% hit toward a more than 15-month low in premarket trading Thursday, after the branded foods company, with brands including Planters, Skippy, Spam and Natural Choice, reported fiscal first-quarter results that missed expectations, citing inflationary pressures, supply chain inefficiencies and weak sales volumes. Net income for the quarter to Jan. 29 fell to $217.7 million, or 40 cents a share, from $239.6 million, or 44 cents a share, in the year-ago period.
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