Hormel Foods reports Q4 EPS 42c, consensus 44c

Reports Q4 revenue $3.2B, consensus $3.26B. “In fiscal 2023, we achieved our second consecutive year of net sales in excess of $12 billion, continued to reinvest in the growth of our leading brands, drove strong operating cash flows of $1 billion and returned a record amount of cash to our shareholders in the form of dividends,” said Jim Snee, chairman of the board, president and chief executive officer. “Despite challenging operating conditions to end the year, our results were in line with the low end of our revenue and adjusted net earnings per share1 expectations, as a strong finish from our Foodservice segment was offset by pressure in our Retail and International businesses.”