Hormel Beats Expectations, Sets 2023 Outlook

Hormel Foods, known for brands like Spam and Dinty Moore, reported a loss of $0.10 per share in Q4, but adjusted earnings of $0.32 per share surpassed expectations. Despite a slight revenue miss, full-year profits of $478.2 million and revenue of $12.11 billion show strength. For the upcoming year, Hormel expects earnings of $1.43-$1.51 per share and revenue of $12.2-$12.5 billion.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.