Hormel Foods Full Year 2024 Earnings: EPS Misses Expectations

Hormel Foods (NYSE:HRL) Full Year 2024 Results

Key Financial Results

• Revenue: US$11.9b (down 1.6% from FY 2023).
• Net income: US$805.0m (up 1.4% from FY 2023).
• Profit margin: 6.8% (up from 6.6% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: US$1.47 (up from US$1.45 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hormel Foods EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%.

The primary driver behind last 12 months revenue was the Retail segment contributing a total revenue of US$7.37b (62% of total revenue). Notably, cost of sales worth US$9.89b amounted to 83% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$929.1m (76% of total expenses). Explore how HRL's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Food industry in the US.

Performance of the American Food industry.

The company's shares are up 2.9% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Hormel Foods.

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