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Hormel Foods Corporation, based in Austin, Minnesota, reported earnings of 35 cents per share for its fiscal third quarter in August, missing the Zacks Consensus Estimate by 14.6%. The company is experiencing profitability challenges due to elevated input costs and inflation, resulting in a trailing four-quarter average earnings miss of 5.6%.
Analysts have revised Hormel’s fiscal fourth-quarter earnings estimates down by 17.95% over the past 60 days, now expecting earnings of 32 cents per share, reflecting a year-over-year decline of 23.8%. Hormel’s shares have fallen almost 25% this year and recently hit a 52-week low.
With a Zacks Rank of #5 (Strong Sell), Hormel Foods operates in a challenging food industry that ranks in the bottom 9% of approximately 250 Zacks Ranked Industries, indicating potential ongoing underperformance in the market.
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