Hormel Foods backs FY24 adjusted EPS view $1.51-$1.65, consensus $1.54

Backs FY24 revenue view $12.2B-$12.5B, consensus $12.18B. Backs FY24 effective tax rate view 21%-23%. “We are reaffirming our full-year net sales and earnings expectations,” Snee said. “We expect continued growth in Foodservice, improvement in our International business, impacts from pricing and innovation in Retail, and further progress on our transformation and modernization initiative. Our teams remain focused on our strategic priorities and delivering on our commitment to improve our business and drive long-term shareholder returns.”