Hormel Foods posted second‑quarter revenue of $2.97 billion, up from $2.9 billion a year earlier, but earnings fell short of expectations. The company said profit per share will be lower than previously forecast, signalling strain in its ongoing turnaround. Management highlighted progress on cost cuts while acknowledging the results will pressure the stock.

Management trimmed its full‑year earnings outlook to $1.28‑$1.37 per share, down from a prior range of $1.37‑$1.46. Analysts surveyed by FactSet had been modeling $1.46 per share. The downgrade reflects the pending divestiture of Hormel’s whole‑bird turkey unit, which will shave roughly $50 million from annual net sales, leaving total sales projected between $12.2 billion and $12.5 billion.

Investors reacted with a modest sell‑off, as the lowered guidance narrows Hormel’s margin for error in a competitive packaged‑food market. The turkey sale trims revenue but could improve cash flow, yet the earnings cut underscores that the broader turnaround remains unfinished. Hormel now faces heightened scrutiny from shareholders demanding faster profit acceleration.

The guidance shift also widens the gap with peer group leaders such as Tyson and JBS, whose forecasts remain above $1.50 per share. With net sales still expected to top $12 billion, Hormel must leverage brand strength in Planters, Skippy and Spam to restore investor confidence.