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Hormel Foods reports revenue growth and gross margin beat ahead of earnings

Hormel Foods logoHormel Foods
Sig2.22Sen+2.43Env0.00Soc0.00Gov0.00

Hormel Foods met analysts’ revenue expectations last quarter, reporting $2.97 billion in revenue, up 2.5% year on year. The quarter also delivered a solid beat of gross margin estimates. Despite this, the company has missed revenue estimates multiple times over the last two years and is down 8.8% while heading into earnings with an average analyst price target of $27.25 versus $23.77.

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