BUZZ-Hormel Foods falls on quarterly profit miss

Reuters

02-27

BUZZ-Hormel Foods falls on quarterly profit miss

** Packaged food company Hormel Foods' HRL.N shares down 3.2% at $27.8

** Company earns 35 cents per share on an adjusted basis in the first quarter; misses analysts' estimate of 38 cents per share, according to data compiled by LSEG

** "The first quarter was pressured as we continued to recover from the snack nuts supply disruption and lapped a full year of whole bird turkey market compression" - CEO Jim Snee

** Co's total volumes fell 4.2% in the quarter from a year ago

** Quarter's selling, general and administrative costs rose about 7% to 475.2 million

** HRL stock fell 2.3% in 2024

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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