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Countdown to Hormel (HRL) Q2 Earnings: Wall Street Forecasts for Key Metrics

Zacks Equity Research
·2-min read

In its upcoming report, Hormel Foods (HRL) is predicted by Wall Street analysts to post quarterly earnings of $0.35 per share, reflecting a decline of 12.5% compared to the same period last year. Revenues are forecasted to be $2.99 billion, representing a year-over-year increase of 0.3%.

Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

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With that in mind, let's delve into the average projections of some Hormel metrics that are commonly tracked and projected by analysts on Wall Street.

The average prediction of analysts places 'Net Sales- Retail' at $1.88 billion. The estimate indicates a change of -2% from the prior-year quarter.

The consensus estimate for 'Net Sales- International' stands at $173.86 million. The estimate points to a change of -3.4% from the year-ago quarter.

The combined assessment of analysts suggests that 'Net Sales- Foodservice' will likely reach $905.22 million. The estimate points to a change of +2.7% from the year-ago quarter.

View all Key Company Metrics for Hormel here>>>

Over the past month, shares of Hormel have returned -1.5% versus the Zacks S&P 500 composite's +4% change. Currently, HRL carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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Hormel Foods Corporation (HRL) : Free Stock Analysis Report

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Zacks Investment Research