Hormel Foods Corporation reported strong second-quarter results on May 28, with net sales up 3% to $2.97 billion and adjusted earnings per share of $0.40. The company achieved its sixth consecutive quarter of organic top-line growth and double-digit adjusted earnings growth. Hormel reaffirmed its full-year adjusted diluted earnings per share guidance of $1.43 to $1.51, reflecting growth of 4% to 10%, and expects net sales between $12.2 billion and $12.5 billion. The quarter also saw the completion of the divestiture of its whole-bird turkey business, aligning with a strategic shift toward value-added proteins.
Hormel Foods CorporationStrong Q2 results with sales and earnings growth, plus reaffirmed full-year guidance.