A hike in input costs has forced US-based Hormel Foods to lower its profit guidance for its fiscal third quarter.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


The company warned that third-quarter earnings per share would fall to US$0.40-0.42, down from a range of $0.42-0.48.


“Higher than expected input costs [for] beef, pork, and chicken within our grocery products segment was the primary reason for the short-fall in our third quarter results,” said Hormel president and CEO Jeffrey Ettinger.


Ettinger added that Hormel had increased the prices of its grocery products but admitted the price hike had failed to offset the rising raw material costs.


Hormel will publish its third-quarter figures on 23 August.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now