Investors Give Tepid Welcome to Hormel's New CEO as EPS Slides Persist
Hormel Foods' shares dipped on the day John Ghingo was elevated to CEO, reflecting investor skepticism after annual EPS fell from $1.82 to $1.37 over four fiscal years. Revenue has remained roughly flat near $12 billion while analysts have trimmed EPS forecasts sharply. The company still draws strong responses to earnings beats, but the imperative …