2024

Fortune

when

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Hormel Foods Corporation (NYSE: HRL), a renowned Fortune 500 global branded food company, has disclosed its <a href="https://investor.hormelfoods.com/news-events/press-releases/news-details/2024/HORMEL-FOODS-REPORTS-FIRST-QUARTER-FISCAL-2024-RESULTS/default.aspx" target="_blank" aria-label="financial results (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">financial results</a> for the first quarter of fiscal year 2024, ending January 28, 2024. The group demonstrated robust performance in the latest quarter, with notable growth across all segments. <br><br>The company reported a volume increase of 4%, reaching 1.1 billion lbs., and net sales growth of 1%, amounting to $3.0 billion. However, operating income decreased slightly by 2%, settling at $284 million, while adjusted operating income grew by 2% to $295 million. The effective tax rate experienced a slight uptick to 23.4%, compared to 22.6% the previous year. <br><br>A significant achievement was the 98% surge in cash flow from operations, which soared to $404 million, showcasing the company’s operational efficiency and robust financial health.</p>
<h3 id="performance-against-expectations">Performance Against Expectations</h3>
<p>The company has surpassed forecasts in several key areas when comparing Hormel Foods’ performance against market expectations. Analysts had anticipated earnings per share (<a href="https://tokenist.com/investing/fundamental-analysis-stocks/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) of $0.33 and revenue of $2.92 billion for the quarter. Hormel outperformed these predictions with diluted net earnings per share of $0.40 and revenue reaching $3.0 billion. This accomplishment reflects the company’s effective management and strategic initiatives, which have successfully navigated the complex market dynamics and bolstered its financial standing.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="guidance-and-outlook">Guidance and Outlook</h3>
<p>Looking ahead, Hormel Foods remains optimistic about its growth trajectory and has reaffirmed its full-year guidance. The company anticipates net sales growth of 1% to 3%, underpinned by volume growth in key categories, enhanced brand support, and the impact of incremental pricing actions. For fiscal year 2024, Hormel expects diluted net earnings per share to range between $1.43 to $1.57, with adjusted diluted net earnings per share estimated between $1.51 to $1.65. These projections reflect Hormel’s confidence in its strategic priorities, including expanding its foodservice leadership, developing its global presence, and executing its enterprise entertaining and snacking vision.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/hormel-foods-hrl-surpasses-expectations-with-4-volume-growth-in-q1-fiscal-2024/">Hormel Foods (HRL) Surpasses Expectations with 4% Volume Growth in Q1 Fiscal 2024</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Hormel Foods (HRL) Surpasses Expectations with 4% Volume Growth in Q1 Fiscal 2024

목차

Tokenist

2024년 2월 29일에 게재된 다른 기사

'Rich Dad Poor Dad' Author Comments on Massive Bitcoin Surge

BinaryX IGO to list Project Matthew: Build A Space City With ERC-404 NFTs (29 Feb)

The Graph (GRT) and Render (RNDR) Continue Price Rally as Investors Target Next Pump at Rebel Sat...

24 Crypto Update, 28 Feb: BTC Rally Sparks Altcoin Bonanza

Announcing the winning companies of the Global Excellence Awards 2024

Traders Forecast a 25x Bullish Surge for This Crypto by the End of 2024

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!