Why Hormel Foods Stock Got Knocked Down Today

Sales are in a slump and management is changing its outlook accordingly. Shares of Hormel Foods (HRL -7.32%) got knocked down on Wednesday after the company reported financial results for its fiscal third quarter of 2024. As of 10:30 a.m. ET, Hormel stock was down 8% and getting close to nine-year lows. The outlook drops for Hormel In Q3, Hormel's net sales of $2.9 billion were down 2% year over year, more than what Wall Street had expected. That said, the company's net income of$ 177 million was up nearly ...