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, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced today that Jeff Ettinger, interim chief executive officer, and John Ghingo, president and chief executive officer-elect, will participate in a fireside chat discussion at the Barclays Global Consumer Staples Conference on Wednesday, Sept. 9, 2026. A webcast of the discussion is scheduled to begin at 1:30 p.m. ET (12:30 p.m. CT).

The webcast, replay and other information related to the event can be accessed on the company's investor website, investor.hormelfoods.com.

About Hormel Foods 
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.

SOURCE Hormel Foods Corporation

Company Raises and Narrows Adjusted EPS¹ Outlook Following Solid Third Quarter and Strong Year-to-Date Performance

, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today reported results for the third quarter of fiscal 2026, which ended July 26, 2026. All comparisons are to the comparable period of fiscal 2025, unless otherwise noted.

EXECUTIVE SUMMARY — THIRD QUARTER

Net sales of $2.96 billion; organic net sales1 down 2% Operating income of $111 million; adjusted operating income1 of $266 million Operating margin of 3.7%; adjusted operating margin1 of 9.0% Earnings before income taxes of $103 million; adjusted earnings before income taxes1 of $258 million Diluted earnings per share of $0.11; adjusted diluted earnings per share1 of $0.37 Cash flow from operations of $241 million EXECUTIVE COMMENTARY

"We delivered solid third quarter results, growing our adjusted earnings and continuing to advance our fiscal 2026 objectives," said Jeff Ettinger, interim chief executive officer. "With our strong year-to-date performance and continued opportunities ahead, we are raising and narrowing our adjusted earnings outlook for fiscal 2026 and remain confident in delivering adjusted earnings growth for the year consistent with, or above, our long-term algorithm."

"We continued to make progress against our strategic priorities during the quarter," said John Ghingo, president and chief executive officer-elect. "While net sales declined, the results reflected the impacts of portfolio-shaping actions, lower commodity-based pricing in portions of the business and a consumer environment that remains under pressure. At the same time, several of our Retail priority brands delivered growth, and Foodservice once again outperformed industry trends, supported by the strength of our solutions-based offerings and operator partnerships. As we continue to enhance our capabilities and sharpen our focus, we remain committed to disciplined execution and positioning the company for long-term success."

FULL YEAR FISCAL 2026 GUIDANCE

For fiscal 2026, the Company:

Expects net sales to be in the range of $12.1 billion to $12.2 billion, reflecting organic net sales1 growth of 1% to 2% Updates operating income guidance to be in the range of $0.83 billion to $0.87 billion, which includes the estimated loss related to the Brazil divestiture, a non-cash impairment charge related to a minority investment in Indonesia, and a litigation settlement Raises adjusted operating income1 guidance to be in the range of $1.08 billion to $1.12 billion, reflecting growth of 6% to 10% Updates diluted earnings per share guidance to be in the range of $1.06 to $1.12 Raises adjusted diluted earnings per share1 guidance to be in the range of $1.45 to $1.51, reflecting growth of 6% to 10%
Updated

Previous

Net Sales

$12.1 - $12.2 billion

$12.2 - $12.5 billion

Organic Net Sales1 Growth Rate

1% - 2%

1% - 4%

Diluted Earnings per Share

$1.06 - $1.12

$1.28 - $1.37

Adj. Diluted Earnings per Share1

$1.45 - $1.51

$1.43 - $1.51

PORTFOLIO SHAPING

During the third quarter of fiscal 2026, the Company announced a definitive agreement to sell its Brazil operations, operated under the Ceratti® brand, and classified the business as held for sale. The divestiture reflects the Company's ongoing efforts to simplify and streamline its portfolio and focus its international strategy on markets with the strongest long-term growth opportunities.

The transaction successfully closed in the early part of the fourth quarter of fiscal 2026. The expected impacts of the divestiture are reflected in the Company's updated fiscal 2026 guidance ranges. Beginning in the fourth quarter of fiscal 2026, the impact of the divestiture will be excluded from year-over-year comparisons in the Company's non-GAAP organic volume¹ and organic net sales¹ metrics.

SEGMENT HIGHLIGHTS – THIRD QUARTER

Retail

Volume down 9%; organic volume1 down 9% Net sales down 4%; organic net sales1 down 3% Segment profit down 4% Organic net sales1 decreased in the third quarter of fiscal 2026, as declines in commodity turkey and private label snack nuts were partially offset by strong performance in value-added turkey offerings, contract manufacturing and Planters® snack nuts. Additional priority brands that delivered solid growth during the quarter include the SPAM® family of products, Applegate® natural and organic meats, and Hormel® chili. Segment profit decreased for the third quarter of fiscal 2026, as lower net sales and higher logistics expenses were partially offset by lower selling, general and administrative expenses.

Foodservice

Volume down 1%; organic volume1 down 1% Net sales up 2%; organic net sales1 up 2% Segment profit up 3% The third quarter of fiscal 2026 marked the 12th consecutive quarter of organic net sales1 growth for the Foodservice segment. Organic net sales¹ growth was broad-based despite the impact of lower commodity-based pricing in portions of the portfolio. Growth was driven by multiple product groups and categories, led by significant contributions from premium prepared proteins, branded pepperoni and Jennie-O® turkey. Additional branded products, including Austin Blues® smoked meats, Hormel® Natural Choice® meats and Hormel® Fire Braised™ meats, also delivered strong net sales results. Segment profit increased for the third quarter of fiscal 2026, as higher net sales and favorable pork input costs were partially offset by higher logistics and selling, general and administrative expenses.

International

Volume down 11%; organic volume1 down 11% Net sales down 5%; organic net sales1 down 4% Segment profit down 254%; adjusted segment profit1 flat For the International segment, organic net sales¹ declined in the third quarter of fiscal 2026. While branded export demand remained resilient during the quarter, the recognition of certain SPAM® export sales was adversely impacted due to a one-time legal-entity transition. Segment profit was significantly impacted by a non-cash impairment charge. Adjusted segment profit1 was comparable to the prior year, as minority investment performance offset weaker results in Brazil.

ADDITIONAL FINANCIAL DETAILS – THIRD QUARTER FISCAL 2026

Income Statement

Operating margin and adjusted operating margin1 were 3.7% and 9.0%, respectively, compared to 7.9% and 8.4%, respectively, in the prior year. Selling, general and administrative expenses as a percent of net sales and adjusted selling, general and administrative expenses as a percent of net sales1 were 10.9% and 7.3%, respectively, compared to 8.5% and 8.1%, respectively, in the prior year. Advertising investments were $34 million, compared to $41 million last year. Significant discrete pre-tax items included: a loss of $56 million related to the Brazil divestiture, a non-cash impairment charge related to a minority investment in Indonesia of $48 million and a litigation settlement of $38 million. The effective tax rate was 42.3%, compared to 22.3% last year, and was significantly impacted by one-time items. Cash Flow Statement

Cash flow from operations was $241 million, an increase of 54% compared to the prior year. Capital expenditures were $68 million, compared to $72 million last year. The largest projects in the third quarter of fiscal 2026 were related to infrastructure enhancements and investments in data and technology. Depreciation and amortization expense was $66 million, compared to $65 million last year. The Company returned $161 million to stockholders during the quarter through dividends. Balance Sheet

The Company remained in a strong financial position at quarter end, with ample liquidity and a conservative level of debt. Cash on hand, excluding assets held for sale, was $840 million at quarter end, an increase of $169 million from the end of fiscal 2025. Inventories were $1.8 billion at quarter end, an increase of $54 million from the end of fiscal 2025. PRESENTATION
A conference call will be webcast at 8 a.m. CT on Aug. 27, 2026. Access is available at hormelfoods.com by clicking on "Investors." The call will also be available via telephone by dialing 833-461-5787 (toll free) or 585-542-9983 (international) and providing the conference ID 915 330 197. An audio replay is available at hormelfoods.com. The webcast replay will be available at noon CT, Aug. 27, 2026, and will remain on the website for one year.

ABOUT HORMEL FOODS
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which are based on the Company's current assumptions and expectations. These statements are typically accompanied by the words "aim," "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "project," "seek," "target," "will," "would," or similar words or expressions. The principal forward-looking statements in this news release include statements regarding the Company's fiscal 2026 guidance and future financial and operational performance.

All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although the Company believes there is a reasonable basis for the forward-looking statements, its actual results could be materially different. The most important factors that could cause the Company's actual results to differ from its forward-looking statements include, but are not limited to, risks related to the deterioration of economic conditions; risks related to acquisitions, joint ventures, equity investments, and divestitures; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges; the risk of disruption of operations; the risk that the Company may fail to realize anticipated cost savings or operating profit improvements associated with strategic initiatives, including the Transform and Modernize initiative and the Company's recent corporate restructuring plan; risk of unfavorable changes in the Company's relationships with third parties; risk of the Company's inability to protect information technology (IT) systems against, or effectively respond to, cyberattacks, security breaches or other IT interruptions; labor relations and labor availability risks; food safety risks; fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for the Company's products; risks related to the Company's ability to respond to changing consumer preferences; damage to the Company's reputation or brand image; risks of litigation; risks associated with government regulation; risks related to trade policies, export and import controls, and tariffs; and the other risks and uncertainties described in Item 1A – Risk Factors of the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which can be accessed at hormelfoods.com in the "Investors" section. Though the Company has attempted to list comprehensively these important cautionary risk factors, the Company cautions that other factors may in the future prove to be important in affecting the Company's business or results of operations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statement except as otherwise required by law.

Note: Due to rounding, numbers presented throughout this press release may not sum precisely to the totals provided, and percentages may not precisely reflect the absolute figures.

Reclassifications: Certain prior year amounts have been reclassified to conform to the current year presentation.

END NOTES

Non-GAAP measure. See Appendix: Non-GAAP Measures to this news release for more information. INVESTOR CONTACT
Jess Blomberg
[email protected] 

MEDIA CONTACT
Laura Cederberg
[email protected] 

HORMEL FOODS CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

In thousands, except per share amounts

Unaudited

Quarter Ended

Nine Months Ended

July 26, 2026

July 27, 2025

July 26, 2026

July 27, 2025

Net Sales

$ 2,961,333

$ 3,032,876

$ 8,961,250

$ 8,920,499

Cost of Products Sold

2,489,818

2,545,567

7,501,653

7,473,524

Gross Profit

471,515

487,309

1,459,597

1,446,975

Selling, General, and Administrative

323,501

258,713

883,822

773,158

Equity in Earnings of Affiliates

(37,110)

11,153

(4,061)

42,614

Operating Income

110,904

239,748

571,713

716,430

Interest Income

6,661

4,877

19,667

18,596

Interest Expense

19,635

19,461

59,185

58,438

Other Income (Expense), Net

5,227

11,350

11,336

8,488

Earnings Before Income Taxes

103,157

236,514

543,531

685,076

Provision for Income Taxes

43,638

52,818

144,865

151,107

Effective Tax Rate

42.3 %

22.3 %

26.7 %

22.1 %

Net Earnings

59,519

183,696

398,666

533,968

Less: Net Earnings (Loss) Attributable
   to Noncontrolling Interest

(55)

(46)

(182)

(366)

Net Earnings Attributable to Hormel
Foods Corporation

$     59,573

$   183,742

$   398,848

$   534,334

Net Earnings Per Share:

Basic

$         0.11

$         0.33

$         0.72

$         0.97

Diluted

$         0.11

$         0.33

$         0.72

$         0.97

Weighted-average Shares
Outstanding:

Basic

550,675

550,408

550,572

550,048

Diluted

551,074

550,723

550,898

550,396

Dividends Declared Per Share

$     0.2925

$     0.2900

$     0.8775

$     0.8700

HORMEL FOODS CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL POSITION

In thousands

Unaudited

July 26, 2026

October 26, 2025

Assets

Cash and Cash Equivalents

$              839,639

$              670,679

Short-term Marketable Securities

28,807

32,909

Accounts and Other Receivables, Net

733,460

813,989

Inventories

1,801,567

1,747,279

Taxes Receivable

58,688

96,791

Prepaid Expenses and Other Current Assets

53,420

44,010

Assets Held for Sale

10,659

—

Total Current Assets

3,526,238

3,405,656

Goodwill

4,867,763

4,924,087

Intangible Assets

1,572,850

1,647,297

Pension Assets

204,135

211,826

Investments in Affiliates

527,864

533,984

Other Assets

430,139

431,500

Property, Plant, and Equipment, Net

2,163,025

2,238,770

Total Assets

$         13,292,014

$         13,393,119

Liabilities and Shareholders' Investment

Accounts Payable & Accrued Expenses

$              771,154

$              787,350

Accrued Marketing Expenses

133,313

113,947

Employee-related Expenses

250,072

273,402

Interest and Dividends Payable

175,646

180,700

Taxes Payable

10,690

18,752

Current Maturities of Long-term Debt

505,634

6,646

Liabilities Held for Sale

27,483

—

Total Current Liabilities

1,873,991

1,380,796

Long-term Debt Less Current Maturities

2,349,489

2,850,778

Pension and Postretirement Benefits

351,174

358,984

Deferred Income Taxes

653,360

661,349

Other Long-term Liabilities

204,345

225,397

Accumulated Other Comprehensive Loss

(236,907)

(243,646)

Other Shareholders' Investment

8,096,561

8,159,461

Total Liabilities and Shareholders' Investment

$         13,292,014

$         13,393,119

HORMEL FOODS CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

In thousands

Unaudited

Quarter Ended

Nine Months Ended

July 26, 2026

July 27, 2025

July 26, 2026

July 27, 2025

Operating Activities

Net Earnings

$        59,519

$      183,696

$      398,666

$      533,968

Depreciation and Amortization

66,427

64,692

202,348

194,527

Equity in Earnings of Affiliates

37,110

(11,153)

4,061

(42,614)

Loss (Gain) on Divestitures

57,379

—

94,085

10,800

Decrease (Increase) in Working Capital, Net of Divestitures

(2,174)

(95,844)

111

(255,011)

Other

22,339

15,307

69,481

80,674

Net Cash Provided by (Used in)
   Operating Activities

240,599

156,698

768,752

522,345

Investing Activities

Net Sale (Purchase) of Securities

3,498

(1,434)

3,372

(6,170)

Proceeds from Sale of Business

(2,979)

—

97,056

13,139

Purchases of Property, Plant, and
   Equipment

(68,163)

(72,194)

(219,331)

(219,444)

Proceeds from (Purchases of) Affiliates
   and Other Investments

—

(584)

(5,316)

(3,283)

Other

6,119

7,890

11,952

10,767

Net Cash Provided by (Used in)
   Investing Activities

(61,526)

(66,323)

(112,267)

(204,991)

Financing Activities

Repayments of Long-term Debt and
   Finance Leases

(1,773)

(2,005)

(5,425)

(6,250)

Dividends Paid on Common Stock

(160,963)

(159,467)

(481,401)

(473,692)

Other

(283)

(1,784)

(1,609)

24,057

Net Cash Provided by (Used in)
   Financing Activities

(163,019)

(163,256)

(488,435)

(455,884)

Effect of Exchange Rate Changes on
   Cash

1,291

2,381

5,368

(4,161)

Increase (Decrease) in Cash, Cash
   Equivalents, and Cash Held for Sale

17,345

(70,499)

173,417

(142,692)

Cash, Cash Equivalents, and Cash Held
   for Sale at Beginning of Period

826,750

669,688

670,679

741,881

Cash, Cash Equivalents, and Cash Held
   for Sale at End of Period

844,095

599,189

844,095

599,189

Less: Cash Held for Sale

4,457

—

4,457

—

Cash and Cash Equivalents at End of
Period

$      839,639

$      599,189

$      839,639

$      599,189

HORMEL FOODS CORPORATION

SEGMENT DATA

In thousands

Unaudited

Quarter Ended

Nine Months Ended

July 26,
2026

July 27,
2025

%
Change

July 26,
2026

July 27,
2025

%
Change

Volume (lbs.)

Retail

648,340

712,912

(9.1)

2,005,233

2,127,075

(5.7)

Foodservice

244,830

248,540

(1.5)

733,557

734,988

(0.2)

International

75,908

85,138

(10.8)

231,905

239,225

(3.1)

Total Volume (lbs.)

969,078

1,046,590

(7.4)

2,970,695

3,101,288

(4.2)

Net Sales

Retail

$ 1,779,434

$ 1,858,434

(4.3)

$ 5,416,905

$ 5,532,401

(2.1)

Foodservice

1,003,158

986,976

1.6

2,998,096

2,853,603

5.1

International

178,740

187,466

(4.7)

546,249

534,495

2.2

Total Net Sales

$ 2,961,333

$ 3,032,876

(2.4)

$ 8,961,250

$ 8,920,499

0.5

Segment Profit

Retail

$    118,073

$    122,566

(3.7)

$    369,902

$    378,847

(2.4)

Foodservice

144,475

140,711

2.7

456,800

420,170

8.7

International

(29,233)

18,941

(254.3)

15,812

58,193

(72.8)

Total Segment Profit

233,316

282,218

(17.3)

842,515

857,210

(1.7)

Net Unallocated Expense

130,104

45,658

185.0

298,802

171,769

74.0

Noncontrolling Interest

(55)

(46)

(20.4)

(182)

(366)

50.2

Earnings Before
Income Taxes

$   103,157

$   236,514

(56.4)

$   543,531

$   685,076

(20.7)

APPENDIX: NON-GAAP MEASURES
This press release includes measures of financial performance that are not defined by U.S. generally accepted accounting principles (GAAP). The Company utilizes these non-GAAP measures to understand and evaluate operating performance on a consistent basis. These measures may also be used when making decisions regarding resource allocation and in determining incentive compensation. The Company believes these non-GAAP measures provide useful information to investors because they aid analysis and understanding of the Company's results and business trends relative to past performance and the Company's competitors. Non-GAAP measures are not intended to be a substitute for GAAP measures in analyzing financial performance. These non-GAAP measures are not calculated in accordance with GAAP and may be different from non-GAAP measures used by other companies.

Transform and Modernize (T&M) Initiative
In the fourth quarter of fiscal 2023, the Company announced a multi-year T&M initiative. In presenting non-GAAP measures, the Company adjusts for (i.e., excludes) expenses for this initiative that are nonrecurring, which are primarily project-based external consulting fees and expenses related to supply chain and portfolio optimization (e.g., asset write-offs, severance, or relocation-related costs). The Company believes that nonrecurring costs associated with the T&M initiative are not reflective of the Company's ongoing operating cost structure; therefore, the Company is excluding these discrete costs. The Company does not adjust for (i.e., does not exclude) certain costs related to the T&M initiative that are expected to continue after the project ends, such as software license fees and internal employee expenses, because those costs are considered ongoing in nature as a component of normal operating costs. The Company also does not adjust for savings realized through the T&M initiative as these are considered ongoing in nature and reflective of expected future operating performance.

Gain or Loss on Divestitures
As part of its ongoing portfolio management activities, the Company may periodically divest certain businesses to better align its portfolio with its strategic objectives and long-term growth strategy. The Company believes the one-time impacts from these transactions, including transaction costs, are not reflective of the Company's ongoing operating cost structure, are not indicative of the Company's core operating performance, and are not meaningful when comparing the Company's operating performance against that of prior periods. Thus, the Company has adjusted for (i.e., excluded) these impacts. Transactions affecting comparability include the Brazil transaction, the whole-bird turkey transaction, the Justin's, LLC transaction, and the Mountain Prairie, LLC divestiture.

Corporate Restructuring Plan
In the fourth quarter of fiscal 2025, the Company commenced a corporate restructuring plan, the focus of which is to reduce administrative expenses, improve efficiencies, and align the workforce to the Company's future needs, while enabling continued investment in the Company's growth. The costs incurred to execute the corporate restructuring plan and the charges incurred under the program are primarily related to severance and employee benefit costs. Because the Company believes certain charges incurred under the corporate restructuring plan do not reflect future operating costs and are not meaningful when comparing the Company's operating performance against that of prior periods, the Company adjusts for (i.e., excludes) these impacts.

Consulting Agreement
On October 27, 2025, the Company entered into a consulting agreement (Consulting Agreement) with its former Chief Executive Officer (CEO), pursuant to which the former CEO is expected to provide consulting services to the Company until April 2027. Consulting costs related to the Consulting Agreement include cash and share-based compensation, which were primarily recognized in the first quarter of fiscal 2026. The Company believes nonrecurring costs associated with the Consulting Agreement are not reflective of the Company's ongoing operating cost structure, are not indicative of the Company's core operating performance, and are not meaningful when comparing the Company's operating performance against that of prior periods; therefore, the Company is excluding these discrete costs.

Legal Matters
From time to time, the Company receives proceeds or incurs expenses related to discrete legal matters that the Company believes are not indicative of the Company's core operating performance, do not reflect expected future operating income or costs, and are not meaningful when comparing the Company's operating performance against that of prior periods. The Company adjusts for (i.e., excludes) these impacts.

Litigation Settlements
In the third quarter of fiscal 2026, the Company executed a settlement agreement with certain plaintiffs in an antitrust lawsuit. In fiscal 2025, the Company entered into a settlement agreement with certain plaintiffs in an antitrust lawsuit.

Impairments
In the third quarter of fiscal 2026, the Company recorded a non-cash impairment charge related to a minority investment in Indonesia. The Company believes these charges are not indicative of the Company's core operating performance, do not reflect expected future operating income or costs, and are not meaningful when comparing the Company's operating performance against that of prior periods. Thus, the Company has adjusted for (i.e., excluded) these impacts.

The tables below show the calculations to reconcile from the GAAP measures to the non-GAAP measures presented in this press release. The tax provision expense or benefit of each of the pre-tax items excluded from the Company's GAAP results was computed based on the facts and tax implications associated with each item.

HORMEL FOODS CORPORATION

RECONCILIATION OF NON-GAAP MEASURES

Unaudited

Quarter Ended

Nine Months Ended

In thousands, except per share amounts

July 26, 2026

July 27, 2025

July 26, 2026

July 27, 2025

Cost of Products Sold (GAAP)

$ 2,489,818

$ 2,545,567

$ 7,501,653

$ 7,473,524

Transform and Modernize Initiative(1)

(447)

(1,010)

(2,222)

(3,973)

Adjusted Cost of Products Sold (Non-GAAP)

$ 2,489,371

$ 2,544,557

$ 7,499,431

$ 7,469,551

SG&A (GAAP)

$    323,501

$    258,713

$   883,822

$   773,158

Transform and Modernize Initiative(2)

(11,792)

(13,485)

(36,448)

(41,228)

Gain (Loss) on Divestitures

(57,379)

—

(94,911)

(11,324)

Corporate Restructuring Plan

26

—

(8,505)

—

Consulting Agreement

—

—

(7,775)

—

Litigation Settlements

(37,500)

—

(37,500)

(240)

Adjusted SG&A (Non-GAAP)

$    216,856

$    245,228

$   698,684

$   720,366

Equity in Earnings of Affiliates (GAAP)

$    (37,110)

$     11,153

$     (4,061)

$     42,614

Impairments

48,218

—

48,218

—

Adjusted Equity in Earnings of Affiliates (Non-
GAAP)

$     11,109

$     11,153

$     44,157

$     42,614

Operating Income (GAAP)

$    110,904

$    239,748

$   571,713

$   716,430

Transform and Modernize Initiative(1)(2)

12,239

14,496

38,669

45,202

(Gain) Loss on Divestitures

57,379

—

94,911

11,324

Corporate Restructuring Plan

(26)

—

8,505

—

Consulting Agreement

—

—

7,775

—

Litigation Settlements

37,500

—

37,500

240

Impairments

48,218

—

48,218

—

Adjusted Operating Income (Non-GAAP)

$    266,215

$    254,244

$   807,292

$   773,196

Earnings Before Income Taxes (GAAP)

$    103,157

$    236,514

$   543,531

$   685,076

Transform and Modernize Initiative(1)(2)

12,239

14,496

38,669

45,202

(Gain) Loss on Divestitures

57,379

—

94,911

11,324

Corporate Restructuring Plan

(26)

—

8,505

—

Consulting Agreement

—

—

7,775

—

Litigation Settlements

37,500

—

37,500

240

Impairments

48,218

—

48,218

—

Adjusted Earnings Before Income Taxes (Non-
GAAP)

$    258,467

$    251,010

$   779,110

$   741,842

Provision for Income Taxes (GAAP)

$     43,638

$     52,818

$   144,865

$   151,107

Transform and Modernize Initiative(1)(2)

2,999

3,233

9,474

9,960

(Gain) Loss on Divestitures

303

—

4,525

2,469

Corporate Restructuring Plan

(6)

—

2,084

—

Consulting Agreement

—

—

—

—

Litigation Settlements

9,188

—

9,188

52

Impairments

—

—

—

—

Adjusted Provision for Income Taxes (Non-GAAP)

$     56,120

$     56,051

$   170,136

$   163,588

Net Earnings Attributable to Hormel Foods
Corporation (GAAP)

$     59,573

$    183,742

$   398,848

$   534,334

Transform and Modernize Initiative(1)(2)

9,241

11,263

29,195

35,242

(Gain) Loss on Divestitures

57,076

—

90,386

8,855

Corporate Restructuring Plan

(20)

—

6,421

—

Consulting Agreement

—

—

7,775

—

Litigation Settlements

28,313

—

28,313

188

Impairments

48,218

—

48,218

—

Adjusted Net Earnings Attributable to Hormel
Foods Corporation (Non-GAAP)

$    202,402

$    195,005

$   609,156

$   578,620

Diluted Earnings Per Share (GAAP)

$         0.11

$         0.33

$        0.72

$        0.97

Transform and Modernize Initiative(1)(2)

0.02

0.02

0.05

0.06

(Gain) Loss on Divestitures

0.10

—

0.16

0.02

Corporate Restructuring Plan

—

—

0.01

—

Consulting Agreement

—

—

0.01

—

Litigation Settlements

0.05

—

0.05

—

Impairments

0.09

—

0.09

—

Adjusted Diluted Earnings Per Share (Non-GAAP)

$         0.37

$         0.35

$        1.11

$        1.05

SG&A as a Percent of Net Sales (GAAP)

10.9 %

8.5 %

9.9 %

8.7 %

Transform and Modernize Initiative(2)

(0.4)

(0.4)

(0.4)

(0.5)

Gain (Loss) on Divestitures

(1.9)

—

(1.1)

(0.1)

Corporate Restructuring Plan

—

—

(0.1)

—

Consulting Agreement

—

—

(0.1)

—

Litigation Settlements

(1.3)

—

(0.4)

—

Adjusted SG&A as a Percent of Net Sales (Non-GAAP)

7.3 %

8.1 %

7.8 %

8.1 %

Operating Margin (GAAP)

3.7 %

7.9 %

6.4 %

8.0 %

Transform and Modernize Initiative(1)(2)

0.4

0.5

0.4

0.5

(Gain) Loss on Divestitures

1.9

—

1.1

0.1

Corporate Restructuring Plan

—

—

0.1

—

Consulting Agreement

—

—

0.1

—

Litigation Settlements

1.3

—

0.4

—

Impairments

1.6

—

0.5

—

Adjusted Operating Margin (Non-GAAP)

9.0 %

8.4 %

9.0 %

8.7 %

(1)  Comprised primarily of costs related to supply chain and portfolio optimization.

(2)  Comprised primarily of project-based external consulting fees.

ADJUSTED SEGMENT PROFIT (NON-GAAP)

Quarter Ended

July 26, 2026

July 27, 2025

In thousands

GAAP

Non-GAAP Adjustments(1)

Non-GAAP

GAAP

Non-GAAP Adjustments(2)

Non-GAAP

Segment Profit (Loss)

Retail

$ 118,073

$               —

$   118,073

$ 122,566

$               —

$   122,566

Foodservice

144,475

—

144,475

140,711

—

140,711

International

(29,233)

48,218

18,985

18,941

—

18,941

Total Segment Profit (Loss)

233,316

48,218

281,534

282,218

—

282,218

Net Unallocated Expense

130,104

(107,092)

23,012

45,658

(14,496)

31,162

Noncontrolling Interest

(55)

—

(55)

(46)

—

(46)

Earnings Before Income Taxes

$ 103,157

$       155,310

$   258,467

$ 236,514

$         14,496

$   251,010

(1)

International segment profit (loss) adjustments in the third quarter of fiscal 2026 were due to a non-cash impairment charge.
Net Unallocated Expense adjustments were comprised of gain (loss) on divestitures, an unfavorable litigation settlement,
nonrecurring T&M initiative costs, and corporate restructuring plan charges.

(2)

Net Unallocated Expense adjustments in the third quarter of fiscal 2025 were comprised of nonrecurring T&M initiative costs.

Nine Months Ended

July 26, 2026

July 27, 2025

In thousands

GAAP

Non-GAAP Adjustments(1)

Non-GAAP

GAAP

Non-GAAP Adjustments(2)

Non-GAAP

Segment Profit (Loss)

Retail

$ 369,902

$               —

$   369,902

$ 378,847

$               —

$   378,847

Foodservice

456,800

—

456,800

420,170

—

420,170

International

15,812

48,218

64,031

58,193

—

58,193

Total Segment Profit (Loss)

842,515

48,218

890,734

857,210

—

857,210

Net Unallocated Expense

298,802

(187,360)

111,442

171,769

(56,766)

115,003

Noncontrolling Interest

(182)

—

(182)

(366)

—

(366)

Earnings Before Income
Taxes

$ 543,531

$       235,578

$   779,110

$ 685,076

$         56,766

$   741,842

(1)

International segment profit (loss) adjustments in the first nine months of fiscal 2026 were due to a non-cash impairment
charge. Net Unallocated Expense adjustments were comprised of gain (loss) on divestitures, nonrecurring T&M initiative costs,
an unfavorable litigation settlement, corporate restructuring plan charges, and Consulting Agreement costs.

(2)

Net Unallocated Expense adjustments in the first nine months of fiscal 2025 were comprised of nonrecurring T&M initiative
costs, the loss on the divestiture of Mountain Prairie, LLC and an unfavorable litigation settlement.

ORGANIC VOLUME AND ORGANIC NET SALES (NON-GAAP)

The non-GAAP measures of organic volume and organic net sales are presented to provide investors with additional information to facilitate the comparison of past and present operations. Organic volume and organic net sales exclude the impact of the sale of the Company's controlling equity interest in Justin's, LLC in the first quarter of fiscal 2026.

Quarter Ended

July 26, 2026

July 27, 2025

In thousands

GAAP

GAAP

Divestiture

Non-GAAP
Organic

Non-GAAP

% Change

Volume (lbs.)

Retail

648,340

712,912

(3,540)

709,372

(8.6)

Foodservice

244,830

248,540

(346)

248,194

(1.4)

International

75,908

85,138

(68)

85,071

(10.8)

Total Volume (lbs.)

969,078

1,046,590

(3,953)

1,042,637

(7.1)

Net Sales

Retail

$         1,779,434

$ 1,858,434

$    (19,052)

$ 1,839,382

(3.3)

Foodservice

1,003,158

986,976

(1,856)

985,120

1.8

International

178,740

187,466

(520)

186,947

(4.4)

Total Net Sales

$         2,961,333

$ 3,032,876

$    (21,427)

$ 3,011,449

(1.7)

Nine Months Ended

July 26, 2026

July 27, 2025

In thousands

GAAP

GAAP

Divestiture

Non-GAAP
Organic

Non-GAAP

% Change

Volume (lbs.)

Retail

2,005,233

2,127,075

(8,605)

2,118,469

(5.3)

Foodservice

733,557

734,988

(724)

734,264

(0.1)

International

231,905

239,225

(117)

239,109

(3.0)

Total Volume (lbs.)

2,970,695

3,101,288

(9,446)

3,091,842

(3.9)

Net Sales

Retail

$         5,416,905

$ 5,532,401

$    (45,526)

$ 5,486,876

(1.3)

Foodservice

2,998,096

2,853,603

(4,100)

2,849,503

5.2

International

546,249

534,495

(1,190)

533,305

2.4

Total Net Sales

$         8,961,250

$ 8,920,499

$    (50,815)

$ 8,869,684

1.0

FORWARD-LOOKING GAAP TO NON-GAAP MEASURES

The information below reconciles the estimated fiscal 2026 GAAP measures to the corresponding estimated adjusted non-GAAP measures.

Fiscal 2026 Outlook – Organic Net Sales (Non-GAAP)
To provide a clearer comparison of past and present net sales performance, the Company has adjusted its fiscal 2025 net sales to exclude the impact of the sale of the Justin's® branded business in the first quarter of fiscal 2026 and the sale of its Brazil operations in the fourth quarter of fiscal 2026.

In billions

Fiscal 2026 Outlook

2025 Results

Change

Net Sales (GAAP)

$         12.1

-

$         12.2

$             12.1

0 %

-

1 %

Divestitures

—

-

—

(0.1)

Organic Net Sales (Non-GAAP)

$         12.1

-

$         12.2

$             12.0

1 %

-

2 %

Fiscal 2026 Outlook – Adjusted Operating Income (Non-GAAP)
The Company's fiscal 2026 outlook for adjusted operating income is a non-GAAP measure that excludes items impacting comparability.

In fiscal 2026, the Company expects:

Operating income (GAAP) in the range of $826 million to $869 million Adjustments for gains and losses on divestitures of $94.9 million Adjustments for the T&M initiative of $49.0 million to $52.0 million Adjustment for a non-cash impairment of $48.2 million Adjustment for a litigation settlement of $37.5 million Adjustments for corporate restructuring plan-related charges of $8.5 million Adjustment for the Consulting Agreement of $7.8 million Resulting in an adjusted operating income range (non-GAAP) of $1,075 million to $1,115 million.

Fiscal 2026 Outlook – Adjusted Diluted Earnings per Share (Non-GAAP)
The Company's fiscal 2026 outlook for adjusted diluted earnings per share is a non-GAAP measure that excludes items impacting comparability.

In fiscal 2026, the Company expects:

Diluted earnings per share (GAAP) in the range of $1.06 to $1.12 Adjustments for gains and losses on divestitures of $0.16 Adjustment for a non-cash impairment of $0.09 Adjustments for the T&M initiative of $0.07 Adjustment for a litigation settlement of $0.05 Adjustments for corporate restructuring plan-related charges of $0.01 Adjustment for the Consulting Agreement of $0.01 Resulting in an adjusted diluted earnings per share range (non-GAAP) of $1.45 to $1.51.

SOURCE Hormel Foods Corporation

The food company, which owns Spam and Skippy peanut butter, cut its outlook for annual sales to $12.1 billion to $12.2 billion, compared with a prior range of $12.2 billion to $12.5 billion.

Hormel Foods (HRL - Free Report) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.78%. A quarter ago, it was expected that this maker of Spam canned ham, Dinty Moore stew and other foods would post earnings of $0.35 per share when it actually produced earnings of $0.4, delivering a surprise of +14.29%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Hormel, which belongs to the Zacks Food - Meat Products industry, posted revenues of $2.96 billion for the quarter ended July 2026, missing the Zacks Consensus Estimate by 2.81%. This compares to year-ago revenues of $3.03 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Hormel shares have added about 0% since the beginning of the year versus the S&P 500's gain of 12.1%.

What's Next for Hormel?While Hormel has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Hormel was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.40 on $3.18 billion in revenues for the coming quarter and $1.50 on $12.24 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the bottom 1% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Consumer Staples sector, Brown-Forman B (BF.B - Free Report) , has yet to report results for the quarter ended July 2026. The results are expected to be released on September 2.

This company is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of +5.6%. The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level.

Brown-Forman B's revenues are expected to be $921.18 million, down 0.3% from the year-ago quarter.

Hormel Foods (HRL - Free Report) reported $2.96 billion in revenue for the quarter ended July 2026, representing a year-over-year decline of 2.4%. EPS of $0.37 for the same period compares to $0.35 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.05 billion, representing a surprise of -2.81%. The company delivered an EPS surprise of +2.78%, with the consensus EPS estimate being $0.36.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Hormel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales- Retail: $1.78 billion compared to the $1.81 billion average estimate based on two analysts. The reported number represents a change of -4.3% year over year.Net Sales- International: $178.74 million versus the two-analyst average estimate of $200.65 million. The reported number represents a year-over-year change of -4.7%.Net Sales- Foodservice: $1 billion versus the two-analyst average estimate of $1 billion. The reported number represents a year-over-year change of +1.6%.Segment Profit- Foodservice: $144.48 million versus $146.49 million estimated by two analysts on average.Segment Profit- International: $-29.23 million compared to the $23.41 million average estimate based on two analysts.Segment Profit- Retail: $118.07 million versus $120.9 million estimated by two analysts on average.View all Key Company Metrics for Hormel here>>>

Shares of Hormel have returned -8.1% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

5 Dividend Kings to Buy in July with Irresistible Value and YieldHormel Foods NYSE: HRL reported third-quarter fiscal 2026 adjusted earnings per share of $0.37, up 6% from the prior-year period, as improved operating margins and cost discipline helped offset a 2% decline in organic net sales.

Interim Chief Executive Officer Jeff Ettinger described the quarter as solid, though not as strong as the second quarter. He said sales were affected by deliberate portfolio actions, softer commodity markets and pressure on consumers, while the company continued to see momentum in strategic portions of its portfolio.

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Campbell's Soup Stock: Deep Value and a 7% Dividend YieldThrough the first nine months of fiscal 2026, Hormel said organic net sales rose 1%, adjusted operating margins expanded 30 basis points and adjusted earnings per share increased 6%.

Updated Fiscal 2026 Outlook The company tightened its full-year organic net sales outlook to growth of 1% to 2%, compared with its prior expectation of 1% to 4%. Hormel now expects fiscal 2026 net sales of $12.1 billion to $12.2 billion.

Was Hormel’s Q2 Earnings Report the Turnaround Investors Needed?Hormel raised and narrowed its adjusted earnings-per-share outlook to $1.45 to $1.51, from a previous range of $1.43 to $1.51. The company said the updated adjusted operating income and adjusted EPS outlook represents year-over-year growth of 6% to 10%.

Ettinger said the revised outlook reflects weaker volumes in certain retail franchises and higher freight and fuel costs, partly offset by an improving cost-of-goods environment. The company had previously viewed approximately $0.40 in fourth-quarter adjusted EPS as its outlook; its updated view places $0.40 at the high end and approximately $0.37 at the midpoint.

Lower pork prices began benefiting results during the third quarter, though Interim CFO and Controller Paul Kuehneman said the company expects a larger share of those benefits in future periods as inventory costs work through the business. Beef costs remained elevated compared with the prior year, while logistics costs continued to be a headwind.

Foodservice Growth Continues; Retail Sales Remain Mixed President and CEO-Elect John Ghingo said Foodservice delivered its 12th consecutive quarter of organic net sales growth despite softer traffic trends across the industry. Premium prepared proteins and branded pepperoni were notable contributors, and Foodservice profit growth outpaced sales growth, producing another quarter of margin expansion.

Retail results were more uneven. The divestiture of Hormel’s whole-bird turkey business, the exit from certain private-label snack nut products, pricing elasticity and a challenging consumer environment weighed on sales and volumes. Ghingo said about half of the Retail segment’s volume decline was related to the whole-bird turkey business, private-label snack nut exits and contract manufacturing.

Nevertheless, the company cited growth in several priority brands and product lines, including JENNIE-O Ground Turkey, Applegate, Hormel Chili, refrigerated entrees and Planters. Ghingo said JENNIE-O Ground Turkey and Hormel Square Table entrees posted mid- to high-single-digit consumption growth. He also cited consumption growth for Applegate, the company’s center-store canned portfolio, Herdez, Hormel Black Label Bacon and Planters.

Hormel is shifting more marketing spending toward retailer media and digital channels, an effort it expects to continue through the fourth quarter. The company said it plans increased advertising spending in the fourth quarter following lower advertising expense in the third quarter due partly to timing.

International Actions and Supply Chain Costs Hormel announced a definitive agreement to sell its Brazil operations, which closed early in the fourth quarter. Kuehneman said the company recognized a loss related to the sale at the corporate level during the third quarter. Brazil’s operating results will be excluded from organic volume and net sales comparisons going forward.

The International segment was also affected by an impairment tied to a minority investment in Indonesia and a one-time legal-entity transition that delayed recognition of certain SPAM export sales. Kuehneman said the majority of the segment’s tonnage decline was associated with the legal-entity change.

Management said underlying demand for branded export products remained resilient and expressed confidence in the segment’s outlook. Hormel is focusing its international strategy more heavily on the Asia-Pacific region and has relocated Group Vice President of International Swen Neufeldt to Singapore.

In the supply chain, Hormel incurred incremental costs from inventory rebalancing, lower production volumes and operating challenges. Ghingo said higher temperatures and weaker feed conversion affected the turkey supply chain, while severe weather-related power outages at several facilities created additional costs. Management characterized those issues as short-term in nature.

Cash Flow, Capital Allocation and Leadership Changes Hormel generated $241 million in operating cash flow during the quarter, up 54% from a year earlier, primarily due to improved inventory management and working capital performance. Capital expenditures totaled $68 million, while the company returned $161 million to shareholders through dividends.

Cash on hand was $840 million at quarter-end, up $169 million from the end of fiscal 2025. Hormel said it had reached its 392nd consecutive quarterly dividend payment and remained committed to its dividend. Ghingo said the company also remains open to strategic partnerships and acquisitions.

Ettinger said this was his final earnings call as interim CEO, though he will remain a member of Hormel’s board. Ghingo will become the company’s next CEO, and Hormel also announced that Ash Bhumbla will join as its next CFO. Ghingo said the company is focused on simplifying operations, investing behind priority brands and growth platforms, and improving execution as it prepares for fiscal 2027.

About Hormel Foods (NYSE:HRL)Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company's portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Hormel Foods Corporation (HRL) Q3 2026 Earnings Call Transcript

Hormel Foods Corporation experienced a significant share price drop following its latest quarterly results, reflecting heightened sector headwinds. HRL's portfolio remains among the most resilient in large-cap food, given its protein-centric nature. Turkey and other poultry products constitute a substantial portion of HRL's portfolio, benefiting from consumer shifts toward this segment.

BlackRock Inc. bought a new stake in shares of Hormel Foods Corporation (NYSE:HRL – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,705,555 shares of the company’s stock, valued at approximately $489,092,000. BlackRock Inc. owned 3.58% of Hormel Foods at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in Hormel Foods during the 2nd quarter valued at about $32,446,000. Perigon Wealth Management LLC purchased a new position in Hormel Foods during the second quarter worth about $314,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Hormel Foods in the 2nd quarter valued at about $14,518,000. AMG National Trust Bank purchased a new position in shares of Hormel Foods in the 2nd quarter valued at about $8,338,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Hormel Foods in the 2nd quarter valued at about $37,000. 40.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Hormel Foods In other news, Director Gary C. Bhojwani sold 20,200 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the sale, the director owned 32,002 shares in the company, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Hormel Foods Price Performance HRL stock opened at $24.06 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a 52-week low of $19.70 and a 52-week high of $29.18. The stock’s 50 day moving average is $24.90 and its two-hundred day moving average is $23.43. The company has a market capitalization of $13.24 billion, a PE ratio of 28.31, a P/E/G ratio of 2.75 and a beta of 0.34. Hormel Foods (NYSE:HRL – Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Analysts predict that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth Several research analysts have issued reports on HRL shares. Stephens reiterated an “equal weight” rating and issued a $25.00 price objective on shares of Hormel Foods in a research report on Thursday, July 9th. Bank of America lifted their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research report on Thursday, May 21st. Finally, BNP Paribas Exane raised their target price on Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus price target of $26.57.

View Our Latest Research Report on Hormel Foods

About Hormel Foods (Free Report)

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

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Hormel Foods on Monday appointed former Tyson Foods executive ​Ash Bhumbla as chief ‌financial officer, effective September, as the Skippy peanut butter maker continues ​with its leadership overhaul.

The upcoming report from Hormel Foods (HRL - Free Report) is expected to reveal quarterly earnings of $0.36 per share, indicating an increase of 2.9% compared to the year-ago period. Analysts forecast revenues of $3.05 billion, representing an increase of 0.5% year over year.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Hormel metrics that are commonly monitored and projected by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Net Sales- Retail' of $1.81 billion. The estimate indicates a year-over-year change of -2.8%.

Analysts forecast 'Net Sales- International' to reach $200.65 million. The estimate indicates a change of +7% from the prior-year quarter.

Analysts' assessment points toward 'Net Sales- Foodservice' reaching $1.00 billion. The estimate points to a change of +1.7% from the year-ago quarter.

The consensus estimate for 'Segment Profit- Foodservice' stands at $146.49 million. Compared to the current estimate, the company reported $140.71 million in the same quarter of the previous year.

It is projected by analysts that the 'Segment Profit- International' will reach $23.41 million. The estimate is in contrast to the year-ago figure of $18.94 million.

The combined assessment of analysts suggests that 'Segment Profit- Retail' will likely reach $120.90 million. Compared to the present estimate, the company reported $122.57 million in the same quarter last year.

View all Key Company Metrics for Hormel here>>>

Over the past month, shares of Hormel have returned -5.7% versus the Zacks S&P 500 composite's +2.3% change. Currently, HRL carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

In its fifth year, the program recognizes student leaders working to build a more transparent, secure and sustainable food system

Collective Impact: The 2026 10 Under 20 Food Heroes have distributed thousands of meals, expanded food access to hundreds of families, and mobilized thousands of volunteers. Celebrating Young Leaders: The Food Heroes will attend a ceremony held at the Hormel Foods headquarters in Austin, Minn., where they will meet with company executives and participate in a panel sharing their work contributing to a safer, more transparent and sustainable food system. The 2026 Cohort: The 2026 class of Food Heroes features students from across the U.S., with initiatives that include working towards food-access for those with allergies, sustainability work with fungi and addressing the growing need for food options in underserved communities. , /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced its fifth cohort of 10 Under 20 Food Heroes. The award recognizes 10 young leaders developing solutions to fight food insecurity.

Collectively, this year's Food Heroes have distributed thousands of meals, rescued tens of thousands of pounds of food, mobilized thousands of volunteers and built innovative programs that are expanding access to nutritious food, supporting underserved communities and driving change across the country.

Hormel Foods celebrates students working towards food security in their communities, from top left to right, Alex Cai, Prakhya Koya, Jared Saiontz, Rohin Menon, Amelia Cho, Nael Lewis-Shakur, Gloria Chi, Jingam Park, Shruti Shivakumar, Jack Ford, Ranvir Gill

Hormel Foods names its fifth cohort of 10 Under 20 Food Heroes, a group of young students working towards a safer, more transparent and sustainable food system. Explore the inspiring stories of the 2026 Hormel Foods 10 Under 20 Food Heroes and learn more about the program at 10under20foodheroes.com.

"As a global food company, the work being done by our Food Heroes aligns closely with our mission to nourish people and strengthen communities," said Henry Hsia, vice president of retail marketing at Hormel Foods. "This program is an investment in the future of our food system and the next generation of leaders who are improving it."

The Food Heroes will travel to the Hormel Foods global headquarters in Austin, Minn. where honorees will participate in an award ceremony and panel discussion about their work. To help foster continued growth, each recipient will receive a $2,500 grant from the Hormel Foods Charitable Trust supporting their efforts to expand and continue to grow their leadership skills.

The 2026 cohort of 10 Under 20 Food Heroes includes:

Alex Cai, 17, Houston, Texas.
As President of The Food Lounge and one of its founders, Alex Cai helps to lead the organization's continued growth and impact in the fight against food insecurity. Since its founding in 2021, The Food Lounge has expanded to more than 10 chapters nationwide with over 500 active members, serving more than 83,000 hot meals, raising more than $110,000 for hunger relief efforts, and reaching more than 800,000 individuals. Under Alex's leadership, the organization remains committed to empowering students through service, strengthening community partnerships, and creating meaningful opportunities to make a lasting difference in the lives of those facing hunger.

Amelia Cho, 17, McLean, Va.
Amelia Cho is the founder and executive director of Mindful Meals, a nonprofit organization that addresses the growing need for more nutritious food options in underserved communities. Mindful Meals works to expand access to fresh, nutritious food while promoting the connection between healthy living and stronger communities. Amelia's leadership and advocacy have helped advance the organization's mission through partnerships with local farmers, community organizations, and volunteers to increase nutrition awareness, support equitable food access, and inspire meaningful action toward a more food-secure future for all. Represented by Minkyu Choi at the award ceremony.

Gloria Chi, 14, Bloomington, Ind.
Fungi For Future was founded by Gloria Chi as an innovative sustainability initiative that transforms used coffee grounds from local cafés in Bloomington, Ind, into mushroom-growing substrate, creating fresh, locally grown food for communities in need while reducing waste. With an initial $1,500 investment, she has repurposed more than 122 pounds of coffee grounds, equivalent to nearly 3,900 cups of coffee, advancing sustainable food production and responsible consumption. Gloria also amplifies climate solutions as the creator and host of Grow With Glo, a podcast featured on WFHB Community Radio that reaches more than 15,000 listeners and highlights the work of environmental innovators and social entrepreneurs driving positive change.

Jack Ford & Ranvir Gill, both 18, Philadelphia, Pa.
Jack Ford and Ranvir Gill are executive team members of Food4Philly, a nonprofit created to combat food insecurity through student-led action. Through fundraising initiatives, volunteer service projects, and community partnerships, they have built a mission-driven organization dedicated to expanding food access and creating meaningful impact. The organization also launched the Food4Philly Impact Fund, a student-managed investment portfolio designed to support the organization's long-term growth and sustainability while advancing its commitment to fighting hunger. Represented by Anantvir Othie at the award ceremony.

Jared Saiontz, 19, Chappaqua, N.Y.
After recognizing that individuals with food allergies often lacked safe food options at local pantries, Jared founded Pack the Pantry to make food assistance more accessible and inclusive. Through his nonprofit, he developed allergen safety protocols, including multilingual educational materials identifying the top nine allergens, and has helped more than 630 food pantries adopt these practices. A passionate advocate for equity and inclusion, Jared continues to raise awareness and resources to ensure everyone has safe access to the food they need.

Jingam Park, 19, Brooklyn, N.Y.
Founded and led by Jingam Park, Voluntas Juvenium is committed to making community service accessible to students from all backgrounds while empowering the next generation of changemakers. Under his leadership, the organization has grown into a global network of more than 1,700 members across 17 countries, contributing over 20,000 volunteer hours to initiatives ranging from food banks to community outreach programs. Through Voluntas Juvenium, Jingam is helping cultivate leadership, empathy, and civic engagement among young people while creating meaningful impact in communities around the world.

Nael Lewis-Shakur, 15, Bel Air, Md.
As a leader on We Cancerve's all-youth board, Nael has expanded the organization's efforts to provide nutritious food and support to vulnerable children. He spearheaded the largest Snack Attack drive in the program's history, mobilizing more than 120 volunteers to pack over 600 snack bags for children living in temporary shelters. He also enhanced We Cancerve's Eggstra Special Easter initiative by ensuring more than 500 children received healthy food options alongside traditional holiday treats and educational materials. Through his leadership, Nael continues to promote nutrition, service, and community engagement while helping meet the needs of children and families facing hardship.

Prakhya Koya, 18, Washington, D.C.
Prakhya Koya founded Leap4u with the belief that no one should go hungry and no food should go to waste. Leap4u has four programs: Zero Hunger, Zero Waste, Zero Poverty, and Mental Health all focused on providing food and transforming it into hope for communities, ensuring that every individual has access to a nutritious meal.  To date, Prakhya has rescued over 30,000 pounds of food and provided more than 70,000 meals to people experiencing homelessness and poverty. Her work has also encouraged community engagement, accumulating over 2,000 volunteer hours.

Rohin Menon, 19, Plainfield, Ill.
What started as a family co-founded nonprofit, The Birthday Giving Program brings joy, dignity, and recognition to children, adults, seniors, and veterans facing adversity. Serving more than 150 nonprofit organizations across 41 states, Washington, D.C., and Sierra Leone, the program partners with homeless shelters, food pantries, churches, nursing homes, hospitals, and other community agencies to provide birthday celebration bags and gifts for individuals who might otherwise go uncelebrated. By filling a critical gap left by limited nonprofit budgets, The Birthday Giving Program ensures that thousands of people each year feel valued, remembered, and celebrated on their special day.

Shruti Shivakumar, 18, Edison, N.J.
After personally experiencing food insecurity, Shruti Shivakumar founded Nourish America, a nonprofit dedicated to ensuring every child has access not just to food, but to healthy, nutritious, and allergy-safe meals tailored to their needs. Through a growing nationwide network of partner organizations, the nonprofit addresses the lasting impacts of economic hardship, inflation, and food insecurity by expanding access to high-quality food for vulnerable families. Driven by a commitment to helping children and communities thrive, Nourish America focuses on creating sustainable solutions that deliver both immediate relief and long-term impact.

About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.

SOURCE Hormel Foods Corporation

, /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, invites interested parties to participate in a webcast and conference call with Jeff Ettinger, interim chief executive officer; John Ghingo, president; and Paul Kuehneman, interim chief financial officer and controller, to discuss the Company's third quarter financial results. The Company will issue its earnings release before the markets open on Thursday, Aug. 27, 2026, and will host a conference call at 8 a.m. CT (9 a.m. ET).

The live webcast, replay, and other information related to the fiscal 2026 third quarter earnings conference call will be available on the Hormel Foods investor website, investor.hormelfoods.com.

About Hormel Foods
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report and one of America's most responsible companies by Newsweek, was recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. For more information, visit hormelfoods.com.

Investor Relations
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Media Relations
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SOURCE Hormel Foods Corporation

Hormel Foods Completes Sale of CERATTIÂ Business in Brazil PR Newswire AUSTIN, Minn., July 31, 2026

Hormel is reaffirmed as a "Buy" for its resilient organic growth, margin expansion, and defensive income profile. HRL delivered 3% YoY organic sales growth and 14% adjusted EPS growth in Q2, outperforming the S&P 500 year-to-date. Operational improvements, a strong balance sheet, and a 4.6% dividend yield support the investment case at a 17.3x forward P/E.

Posted by Defense World Staff on Jul 28th, 2026

Allspring Global Investments Holdings LLC lessened its holdings in Hormel Foods Corporation (NYSE:HRL – Free Report) by 86.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,626 shares of the company’s stock after selling 200,533 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hormel Foods were worth $697,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Hormel Foods by 5.0% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company’s stock worth $213,000 after acquiring an additional 431 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Hormel Foods by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company’s stock worth $1,308,000 after buying an additional 437 shares during the period. Advisory Alpha LLC grew its stake in Hormel Foods by 2.9% in the 4th quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock valued at $367,000 after buying an additional 440 shares in the last quarter. Vermillion Wealth Management Inc. lifted its holdings in Hormel Foods by 1.7% during the 4th quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock worth $615,000 after purchasing an additional 441 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Hormel Foods by 6.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 8,583 shares of the company’s stock worth $203,000 after buying an additional 483 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Insider Activity at Hormel Foods In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares in the company, valued at $784,369.02. This trade represents a 38.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades A number of analysts have recently issued reports on the stock. BNP Paribas Exane lifted their price objective on shares of Hormel Foods from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Bank of America raised their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research report on Thursday, May 21st. Finally, Stephens restated an “equal weight” rating and issued a $25.00 target price on shares of Hormel Foods in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and an average price target of $26.14.

Read Our Latest Analysis on Hormel Foods

Hormel Foods Stock Performance NYSE:HRL opened at $26.06 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $24.13 and its 200 day simple moving average is $23.35. The stock has a market cap of $14.34 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 2.91 and a beta of 0.34. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $29.34.

Hormel Foods (NYSE:HRL – Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. Hormel Foods’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts predict that Hormel Foods Corporation will post 1.5 EPS for the current year.

Hormel Foods Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a yield of 4.5%. Hormel Foods’s dividend payout ratio (DPR) is currently 137.65%.

Hormel Foods Company Profile (Free Report)

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

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Posted by Defense World Staff on Jul 27th, 2026

Dimensional Fund Advisors LP boosted its stake in Hormel Foods Corporation (NYSE:HRL – Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,849,174 shares of the company’s stock after purchasing an additional 134,983 shares during the quarter. Dimensional Fund Advisors LP owned about 1.24% of Hormel Foods worth $155,152,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vest Financial LLC raised its holdings in shares of Hormel Foods by 9.1% in the 4th quarter. Vest Financial LLC now owns 2,042,541 shares of the company’s stock worth $48,408,000 after acquiring an additional 171,137 shares during the last quarter. Sound Income Strategies LLC boosted its position in Hormel Foods by 38,341.8% in the fourth quarter. Sound Income Strategies LLC now owns 124,167 shares of the company’s stock worth $3,007,000 after purchasing an additional 123,844 shares during the last quarter. Fidelity National Financial Inc. purchased a new position in shares of Hormel Foods in the 4th quarter worth about $15,642,000. BNP Paribas Financial Markets increased its holdings in Hormel Foods by 21.2% during the fourth quarter. BNP Paribas Financial Markets now owns 465,204 shares of the company’s stock worth $11,025,000 after buying an additional 81,420 shares during the last quarter. Finally, Advocate Group LLC bought a new stake in Hormel Foods in the fourth quarter worth about $2,319,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hormel Foods In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the transaction, the director directly owned 32,002 shares in the company, valued at $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades A number of research analysts have recently weighed in on HRL shares. The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research report on Thursday, May 21st. Stephens reiterated an “equal weight” rating and issued a $25.00 price objective on shares of Hormel Foods in a research note on Thursday, July 9th. Bank of America increased their price objective on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Friday, July 17th. Finally, BNP Paribas Exane boosted their target price on Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.14.

Get Our Latest Research Report on HRL

Hormel Foods Stock Down 0.0% Shares of NYSE HRL opened at $25.30 on Monday. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $29.34. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.91 and a beta of 0.34. The business has a 50-day moving average of $24.01 and a 200-day moving average of $23.33.

Hormel Foods (NYSE:HRL – Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. Sell-side analysts expect that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be paid a $0.2925 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a yield of 4.6%. Hormel Foods’s dividend payout ratio is currently 137.65%.

Hormel Foods Profile (Free Report)

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

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Key Takeaways NYT is highlighted for earnings estimate gains, 19.1% expected earnings growth and a 1.22% dividend yield.COCO offers 48.7% expected earnings growth and has seen current-year earnings estimates edge higher.HRL combines 9.5% expected earnings growth, higher earnings estimates and a 4.63% dividend yield. Hostilities have resumed in the Middle East, with the United States carrying out its 10th consecutive night of strikes on Iran. Oil prices have again been surging, and consumers fear that inflation, which somewhat eased in June, might increase again.

Markets have remained volatile for most of June and July, triggered by concerns over the sustainability of tech stocks. Renewed fears of a slowing economy could further derail stocks. Given this scenario, we recommend buying three defensive stocks from the consumer staples sector, namely, The New York Times Company (NYT - Free Report) , The Vita Coco Company, Inc. (COCO - Free Report) and Hormel Foods Corporation (HRL - Free Report) .

Volatility Grips Wall StreetOil prices have surged more than 5% since the United States resumed its attack on Iran earlier this month after President Donald Trump declared that the ceasefire is “over.” On Tuesday, energy prices moved up and down as investors closely watched a fresh diplomatic push toward ending the ongoing hostilities.

West Texas Intermediate crude futures rose 2% to settle at $84.91 a barrel, while international benchmark Brent was up 2% to end at $91.01 per barrel.

Inflation eased substantially in June after a temporary memorandum of understanding was reached by the United States and Iran to end hostilities. The consumer price index (CPI) dipped 0.4% month over month in June, after increasing 0.5% in May. The monthly decline in CPI was the biggest since April 2020.

Year over year, CPI declined to 3.5% in June, more than the consensus estimate of a reading of 3.8%. The decline follows a reading of 4.2% in May.

However, concerns have been growing that inflation could spike again if oil prices continue to surge after renewed hostilities between the United States and Iran. Markets have already been volatile over the past month, triggered by a massive tech sell-off on growing worries over the sustainability of AI-related stocks.

Although inflation eased in June, it remains sharply higher than the Federal Reserve’s 2% target. High inflation has posed a major challenge for the Fed. The central bank has been contemplating an interest rate hike by the end of this year.

Markets are pricing in a 25-basis-point rate hike by the Fed sometime this year. Higher borrowing costs could further impact the spending power of consumers and the broader economy.

3 Consumer Staple Stocks With UpsideThe New York Times CompanyThe New York Times Company is a leading global media organization focused on delivering high-quality journalism and information. Founded in 1851 and incorporated in 1896, NYT has evolved from a traditional newspaper publisher into a diversified digital-first media company with a strong global subscriber base and a growing portfolio of lifestyle and entertainment products. 

The New York Times Company has an expected earnings growth rate of 19.1% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last 60 days. The New York Times Company has a beta of 0.96 and a current dividend yield of 1.22%. NYT has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Vita Coco CompanyThe Vita Coco Company, Inc. provides a beverage platform. COCO’s brands include coconut water, Vita Coco; clean energy drink Runa; sustainable enhanced water, Ever & Ever and protein-infused water, PWR LIFT.

The Vita Coco Company’s expected earnings growth rate for the current year is 48.7%. The Zacks Consensus Estimate for the current year’s earnings has improved 0.6% over the past 60 days. COCO currently has a Zacks Rank #2 (Buy). The Vita Coco Company has a beta of 0.77.

Hormel Foods CorporationHormel Foods Corporation is a leading manufacturer as well as marketer of various meat and food products in the United States and international markets. 

Hormel Foods Corporation has an expected earnings growth rate of 9.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.5% over the last 60 days. HRL has a Zacks Rank #2. Hormel Foods Corporation has a beta of 0.34 and a current dividend yield of 4.63%.

Key Takeaways Hormel Foods is selling its Brazil-based Ceratti operations to Zanchetta Alimentos LTDA.Hormel Foods says the deal should have minimal impact on adjusted fiscal 2026 results.Hormel Foods' Ceratti operations are expected to continue without disruption until the deal closes. Hormel Foods Corporation (HRL - Free Report) is continuing to reshape its portfolio, agreeing to sell the Brazil-based CERATTI operations to Zanchetta Alimentos LTDA as the packaged food company sharpens focus on higher-growth markets and streamlines the international business.

The divestiture reflects Hormel Foods' broader strategy of directing resources toward markets and brands with stronger long-term growth prospects while reducing operational complexity. The transaction is expected to close in the coming weeks. Until then, Ceratti's operations are expected to continue without disruption for employees, customers and business partners.

Importantly for investors, Hormel Foods indicated that the sale is expected to have only a minimal impact on adjusted fiscal 2026 results.

The move also aligns with a broader pattern that has emerged across Hormel Foods' portfolio strategy over the past year. The company recently exited the whole-bird turkey business and has reduced exposure to lower-margin or more volatile operations while increasing its emphasis on branded, value-added protein offerings. Those efforts appear to be gaining traction, as Hormel Foods delivered its sixth consecutive quarter of organic sales growth and posted double-digit adjusted earnings growth in the second quarter of fiscal 2026.

The company's international business has also been showing encouraging momentum. International segment profit climbed 20% in the second quarter of fiscal 2026, supported by strong performance in China and robust demand for SPAM exports. The Ceratti sale marks another step in Hormel Foods' ongoing portfolio optimization efforts to continue refining its portfolio and international footprint.

Hormel Foods’ Share Price PerformanceShares of this Zacks Rank #2 (Buy) company have gained 14.3% over the past three months, outperforming the industry’s 5.3% decline and the broader Consumer Staples sector’s 6.7% increase. However, the stock lagged the S&P 500’s 16.3% advance over the same period.

HRL Stock's Past 3 Months’ Performance
Image Source: Zacks Investment Research

Is Hormel Foods a Value Play Stock?Hormel Foods currently trades at a forward 12-month P/E ratio of 17.17 compared with the industry average of 12.45. This valuation places the stock at a premium relative to peers, indicating broader market expectations around its business stability and ability to navigate current cost and demand dynamics.

HRL Valuation Picture
Image Source: Zacks Investment Research

Other Stocks to ConsiderDarling Ingredients Inc. (DAR - Free Report) develops, produces and sells sustainable natural ingredients from edible and inedible bio-nutrients. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Darling Ingredients’ current fiscal-year sales and earnings indicates growth of 12.3% and 575%, respectively, from the prior-year reported levels. Darling Ingredients delivered a trailing four-quarter earnings surprise of 16.1%, on average.

Tyson Foods, Inc. (TSN - Free Report) operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken and Prepared Foods. TSN currently carries a Zacks Rank of 2. Tyson Foods delivered a trailing four-quarter earnings surprise of 18.1%, on average.

The Zacks Consensus Estimate for Tyson Foods’ current fiscal-year sales and earnings indicates growth of 4.4% and 1%, respectively, from the year-ago reported numbers.

Mama's Creations, Inc. (MAMA - Free Report) manufactures and markets fresh deli-prepared foods in the United States. At present, MAMA holds a Zacks Rank of 2. Mama's Creations delivered a trailing four-quarter earnings surprise of 129.2%, on average.

The consensus estimate for Mama's Creations’ current fiscal-year sales and earnings implies growth of 30% and 73.3%, respectively, from the year-ago figures.

Hormel Foods has increased its dividend for a stunning 60 consecutive years. It's a vaunted Dividend Aristocrat more than twice over. Hormel has a very good financial position. Its long-term debt/equity ratio is 0.4, while the interest coverage ratio is around 10. The P/E ratio is sitting at 17.4, based on midpoint guidance for this year's adjusted EPS. That's about as low as I've seen it on this stock.

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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

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Stock to Watch: Hormel Foods (HRL - Free Report) Hormel Foods Corporation is a manufacturer and marketer of various meat, nuts and other food products in the U.S. and international markets. Earlier, the company used to operate through five segments, which were later consolidated into four. Hormel Foods’ portfolio includes brands such as Planters, Skippy, SPAM, Applegate, Wholly, Hormel Black Label, Fontanini, Bacon 1 and Jennie-O, along with 30 other brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats.

HRL is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Consumer Staples stock. HRL has a Momentum Style Score of B, and shares are up 21.9% over the past four weeks.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.03 to $1.46 per share. HRL boasts an average earnings surprise of +3.2%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, HRL should be on investors' short list.

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Hormel Foods has been in a slow-motion bear hug. The stock sits 22.8% below its 52-week high, and the trailing GAAP payout ratio looks ugly after a $234 million non-cash impairment and a $61 million whole-bird turkey divestiture loss. But underneath the noise, the cash engine at Hormel Foods (NYSE:HRL | HRL Price Prediction) is still humming, and this Dividend King‘s payout looks safer than the headlines suggest.

Dividend Snapshot Metric Value Annual Dividend $1.17 per share Dividend Yield 4.79% Consecutive Years of Increases 60 years Most Recent Increase 1% (December 2025) Dividend King Status Yes The GAAP Optics Look Worse Than the Cash Reality Metric Value Assessment GAAP EPS Payout (FY25) 132.4% Distorted by impairments Adjusted EPS Payout (FY25) ~81% ($1.16/$1.43) Elevated FCF Payout (FY25) 118.5% Cyclical trough 5-Yr Avg FCF Payout 77.7% Healthy norm FY25 dividends of $633.2 million outran free cash flow of $534.3 million, a $98.8 million shortfall. That’s the panic. But Q1 FY26 operating cash flow jumped to $349.2 million and Q2 surged 217% to $178.9 million. The trough is behind them.

A Fortress Balance Sheet With Room to Spare Metric Value Cash on Hand (Q2 FY26) $826.75 million Total Liabilities $5.477 billion Shareholders Equity $7.916 billion EBITDA (TTM) $1.251 billion Beta 0.343 Equity meaningfully exceeds total liabilities, and the cash pile grew 23.45% year over year. This balance sheet has the cushion to sustain the dividend through a cyclical trough.

60 Years of Increases and Counting Year Annual Dividend 2026 $1.17 2025 $1.16 2024 $1.13 2023 $1.10 2022 $1.04 No cuts across the 27-year dataset, including 2008 and 2020. Recent growth has slowed to a token 1%, which tells me management is preserving the streak while it rebuilds margins.

Management Calls Out the “Legacy” CEO Jeff Ettinger said on the Q4 FY25 call: “Demonstrating our long-standing commitment to shareholder returns, we recently announced a 1% increase in our quarterly dividend… This marks an impressive milestone, 60 years of uninterrupted dividend increases at Hormel Foods, a legacy we’re extremely proud of.” On Q2 FY26, he added that results gave them “even greater confidence in our ability to deliver our full-year outlook.” Five directors, including Chairman William Newlands, bought stock at $22.65 on March 31, 2026. Insiders are voting with their wallets.

Verdict: Safe, With an Asterisk Dividend Safety Rating: Safe. The adjusted EPS payout near 81% is tight, but FY26 guidance of $1.43 to $1.51 in adjusted EPS pulls forward coverage back toward historical norms, and food spending has been remarkably stable at 7.1% to 7.4% of total PCE through 2026. The bull case strengthens if the Transform and Modernize initiative continues to lift margins (Q2 adjusted operating margin already expanded to 9.9% from 9.1%). The risk case builds if commodity inflation reignites and Retail segment growth stays flat. For retirees, a 4.79% yield from a 60-year Dividend King is a reliable anchor.

Skippy ​peanut butter maker Hormel Foods beat ‌second-quarter sales and profit estimates on Thursday, helped by strong demand for its chicken ​and turkey products.

Hormel Foods reported a lower profit in the second quarter and said its full-year profit would be lower than expected, despite reporting progress in its turnaround strategy.

While the top- and bottom-line numbers for Hormel (HRL) give a sense of how the business performed in the quarter ended April 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.