India, Aug. 28 -- Hormel Foods Corp. (HRL), while reporting higher third-quarter earnings but below market estimates, on Thursday issued fourth-quarter outlook, also below the Street. Further, the firm trimmed its earnings outlook for fiscal 2025, expecting to miss the market.
In the pre-market activity on the NYSE, Hormel Foods shares were losing around 7.7 percent to trade at $26.80.
Jeff Ettinger, interim chief executive officer, said, "The third quarter demonstrated the relevance of our portfolio, evidenced by our strong organic volume and net sales performance across each of our segments. Our earnings results, however, were disappointing, and we fell short of our expectations. The steep rise in commodity input costs affecting our ind...