The company said net sales for Q2 (ended April 28, 2024) were $2.89 billion, down from $2.98 billion a year earlier, and operating income fell to $252 million from $296 million. Diluted net earnings per share were $0.34, compared with $0.40 a year earlier.

1. 01

   The company said net sales for Q2 (ended April 28, 2024) were $2.89 billion, down from $2.98 billion a year earlier, and operating income fell to $252 million from $296 million. Diluted net earnings per share were $0.34, compared with $0.40 a year earlier.

2. 02

   Hormel Foods said adjusted operating income for Q2 was $276 million and adjusted diluted net earnings per share were $0.38. The company said it excluded $11,843 thousand of transform and modernize initiative costs and $11,750 thousand of pork antitrust litigation settlements from its adjusted results.

3. 03

   The company reported that net sales for Q2 fell 6.7% in Retail, rose 5.7% in Foodservice and fell 7.3% in International, compared with the same period a year earlier. Segment profit fell 13.6% in Retail, rose 2.7% in Foodservice and rose 70.7% in International.

4. 04

   Hormel Foods said cash flow from operations for the 6 months ended April 28, 2024 was $640 million, up 55%. The company also gave its full-year diluted net earnings per share outlook as $1.45 to $1.55, previously $1.43 to $1.57.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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