On August 28, Hormel fell 9.47% in regular trading, trading at $21.47/share, with turnover of $221 million. The decline was triggered by the company's fiscal Q3 earnings report released pre-market on August 27, in which revenue missed consensus estimates and management cut full-year sales guidance.

Hormel posted fiscal Q3 adjusted EPS of $0.37, beating the FactSet consensus of $0.35 by 5.71%. However, net sales came in at $2.96 billion, down 2.3% year-over-year and missing the $3.03 billion estimate. More critically, the company lowered its fiscal 2026 sales outlook to $12.1 billion-$12.2 billion, down from the prior range of $12.2 billion-$12.5 billion, falling below the analyst consensus of $12.24 billion. Management cited strained consumers amid persistent inflation and elevated fuel costs as key headwinds weighing on demand.

Hormel Foods Corporation, founded in 1891, produces and markets meat, nuts, and food products under brands including SPAM, SKIPPY, Planters, Jennie-O, and Applegate, serving retail, foodservice, and international markets.

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