Hormel Foods (NYSE: HRL) reported disappointing third-quarter results for fiscal 2024, with earnings per share (EPS) of $0.40, falling short of analysts’ expectations. The company faced a 2.3% decline in net sales, reaching $2.96 billion, and reported a net income of $162.7 million. Hormel attributed the shortfall to rising input costs and weaker demand for commodity products, particularly in the Jennie-O Turkey Store segment. Despite these challenges, the company remains focused on long-term strategies like innovation and product diversification to drive future growth.
