Monday, December 4, 2023

Hormel Foods Issues FY24 Guidance; Remains Focused On Strategic Priorities

Hormel Foods Corp. (HRL) said it expects fiscal 2024 to be a year of investment, consistent with the plan outlined at investor day. For fiscal 2024, the company expects: net sales growth of 1% to 3%; net earnings per share to be $1.43 to $1.57; and adjusted net earnings per share to be $1.51 to $1.65. The company noted that its adjusted net earnings per share guidance excludes the estimated impact of $0.08 per share from one-time and nonrecurring costs. Hormel Foods stated that consistent dividend growth remains one of its top priorities.

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