WASHINGTON (dpa-AFX) - Hormel Foods Corp. (HRL), Wednesday announced an update on its fiscal 2025 fourth quarter, which ended on October 26, along with the appointment of Paul Kuehneman as interim chief financial officer and controller, effective October 27.
In the pre-market, the HRL shares were trading 3.42 % lower at $22.84 on the NYSE.
Looking ahead, Hormel Foods expects net sales growth for the quarter toward the top end of the company's previously issued guidance range and adjusted earnings per share of approximately $0.08 to $0.09 below its prior expectations.
However, the company continues to anticipate strong top-line results for the fourth quarter, driven by sustained demand across its retail, foodservice, and international businesses.
The firm added that in the fourth quarter, they continued to experience persistent inflation in key commodity inputs exceeding expectations. Additionally, the firm was impacted by the spread of highly pathogenic avian influenza and pneumoviruses within the poultry industry.
Meanwhile, the newly appointed Kuehneman is to succeed Jacinth Smiley, who is leaving the Company to pursue other opportunities.
Paul Kuehneman, most recently, served as the vice president and controller of Hormel Foods.
In addition, for the role of chief financial officer, the company intends to conduct a search that includes both internal and external candidates.
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