Hormel Foods Corporation (NYSE:HRL) stock climbed Thursday after the packaged food maker reported stronger-than-expected second-quarter results, helped by resilient demand for protein-focused products and improving margins.
Quarterly Results Beat Estimates
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Hormel Foods reported second-quarter adjusted earnings of 40 cents per share, topping analyst estimates of 36 cents per share.
Quarterly sales rose to $2.973 billion, ahead of Wall Street expectations of $2.954 billion. Organic net sales increased 3% during the quarter.
