Shares of Hormel Foods (NYSE: HRL) are more than a third lower than the high-water mark they reached in 2022, and that includes a huge stock-price advance advance following the release of fiscal first-quarter 2024 earnings. At the end of the day, Hormel's shares are still down so much because it continues to have lingering problems that need addressing.

But the recent good news, which drove the short-term stock move, could be the start of a major business turnaround. Here's what you need to know.

Over the past couple of years, food maker Hormel has been an industry laggard. Inflation has put pressure on the company's margins thanks to the rising cost of ingredients and increased employee compensation expenses, among other things.

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Source Fool.com