Hormel Foods Reports 'Excellent' Q3
Meatpacker and refrigerated and packaged foods maker Hormel Foods (NYSE: HRL) reported an upbeat fiscal third quarter for 2020 this morning, chowing down on record-breaking results in at least one metric. The company beat analyst expectations with strong consumer sales, outweighing the impact of coronavirus-related restaurant closures.
In terms of analyst consensus forecasts, Hormel produced a positive surprise in both earnings and revenue. According to averages reported by Zacks Equity Research, predictions called for $0.33 earnings per share (EPS), with the actual $0.37 EPS surpassing that figure by 12.12%. The company also beat expected revenue of slightly more than $2.29 billion by 3.86% with its actual $2.38 billion of net sales.
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Source Fool.com
