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The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.

Hormel Foods Corporation NYSE: HRL stock investors are living the expression that what goes up must come down. HRL stock is down 8.8% in midday trading after the company posted mixed earnings.

Hormel Foods Corporation (NYSE:HRL ) Q2 2024 Earnings Conference Call May 30, 2024 9:00 AM ET Company Participants David Dahlstrom - Director of Investor Relations Jim Snee - Chairman, President and Chief Executive Officer Jacinth Smiley - Executive Vice President and Chief Financial Officer Deanna Brady - Executive Vice President of Retail Conference Call Participants Kenneth Goldman - JPMorgan Chase & Co. Peter Galbo - Bank of America Merrill Lynch Rupesh Parikh - Oppenheimer Michael Lavery - Piper Sandler Adam Samuelson - Goldman Sachs Tom Palmer - Citi Benjamin Theurer - Barclays Bank PLC Heather Jones - Heather Jones Research Operator Good morning, ladies and gentlemen, and welcome to the Hormel Foods Corporation Second Quarter Earnings Conference Call. At this time, all lines are in a listen-only mode.

Hormel Foods' (HRL) second-quarter fiscal 2024 results reflect strength in its Foodservice business and improvement in the International unit. However, sales and volumes decline year over year.

Although the revenue and EPS for Hormel (HRL) give a sense of how its business performed in the quarter ended April 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Hormel Foods (HRL) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.40 per share a year ago.

Hormel Foods beat market expectations for second-quarter profit on Thursday and raised the lower end of its full-year earnings as the Wholly dips maker sees steady demand for higher-priced meat products.

Shares of Hormel Foods Corp. HRL, -1.73% headed 2.6% higher in premarket trading Thursday, after the food company, which has brands including Skippy, Spam, Dinty Moore and La Victoria, beat fiscal second-quarter profit expectations and raised its full-year outlook, even as sales fell shy. Net income for the quarter to April 28 declined to $189.3 million, or 34 cents a share, from $217.2 million, or 40 cents a share, in the year-ago period.

Delivers better-than-expected first-half earnings; advances transform and modernize initiative AUSTIN, Minn. , May 30, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today reported results for the second quarter of fiscal 2024, ended April 28, 2024.

Students from over 50 colleges and universities participate in the company's 10-week, award-winning internship program AUSTIN, Minn. , May 29, 2024 /PRNewswire/ -- An internship with Hormel Foods isn't your typical summer job.