Hormel Foods sees FY24 adjusted EPS $1.51-$1.65, consensus $1.68

Sees FY24 revenue $12.2B-$12.5B, consensus $12.28B. Sees FY24 effective tax rate 21%-23%. “Looking ahead, our teams continue to navigate through a dynamic operating environment characterized by slowing consumer demand, inflationary pressures and headwinds in our turkey business,” Snee said. “We expect fiscal 2024 to be a year of investment, consistent with the plan we outlined at our recent investor day. We remain focused on our strategic priorities, executing on our transformation and modernization initiative, fueling our innovation pipeline and exiting the year with momentum in our business segments. I remain confident that we have the right brands, strategy, people and culture to deliver on our commitment to improve our business and drive long-term shareholder returns and growth.”