BUZZ-Hormel Foods falls after Q4 profit forecast cut; announces CFO change

Reuters
Oct 29
BUZZ-Hormel Foods falls after Q4 profit forecast cut; announces CFO change

** Shares of Skippy peanut butter maker Hormel Foods <HRL.N> down 3.7% at $22.78 premarket

** Co now expects a reduction of 8 cents to 9 cents in Q4 adjusted EPS from the earlier forecast of 38 cents to 40 cents

** Co says it faces persistent, higher-than-expected inflation in key commodity inputs

** HRL also hit by the spread of highly pathogenic avian influenza $(HPAI)$ and pneumoviruses within the poultry industry

** Still, co expects fourth quarter net sales growth near the top end of its prior guidance

** Co also appoints Paul Kuehneman as interim CFO, effective from October 27, 2025, as Jacinth Smiley steps down

** Up to last close, stock down nearly 24.6% YTD

(Reporting by Sanskriti Shekhar in Bengaluru)

((Sanskriti.Shekhar@thomsonreuters.com))

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