Hormel Foods Corporation (HRL)

We have trimmed our Q2 estimate by a penny, taking it to $0.34, $0.02 below consensus. Our full-year 2024 projection stays $1.61 and we have raised our 2025 projection to $1.75, $0.02 and $0.06 above…

With the exception of beef packers (est losses in the $200-ish/head range), the protein complex has enjoyed robust margins. We estimate that the average BB broiler producer is generating profits approaching $0.30/lb, while small- and…

As we noted in our industry notes published earlier today, we are not utilizing the typical rating system, but instead, are using a forced rank process. This note shows current ranking based upon Friday’s close.

For some time, Hormel’s earnings have been hamstrung by a number of issues ranging from the myriad COVID effects that reverberated through labor (Midwest meat packers were impacted unusually hard by labor shortages), logistics, packaging,…