Hormel Foods Stock Drops After Food Maker Cuts Its Outlook
HRLHormel Foods(HRL) Investopedia·2024-09-05 00:07

Key TakeawaysHormel Foods said lower turkey prices and Planters nut sales hit revenue in the latest quarter. The food products maker lowered its revenue guidance and narrowed its profit forecast.The shares fell Wednesday, turning negative for the year so far. Hormel Foods (HRL) shares sank as the food company’s sales fell and it cut its outlook on lower prices and factory disruptions.  The maker of Spam canned meat and Skippy peanut butter said fiscal third-quarter revenue declined 2.2% to $2.9 billion, sh ...