Hormel Foods reported second-quarter 2026 results with net sales of $2.97B, up 2.5% from $2.9B a year earlier, while net earnings declined to $157.38M and diluted EPS fell to $0.29 from $0.33 in the prior-year quarter.
Financial Highlights
MetricCurrent quarterPrior year quarterYoY changeRevenue¹$2.97B$2.9B2.5%Net income²$157.38M$179.74M(12.4%)Diluted EPS³$0.29$0.33(12.1%)
¹ Reported as “Net Sales”. ² Reported as “Net Earnings”. ³ Reported as “Diluted earnings per share”.
Business Highlights
Revenue growth was driven by organic net sales across Retail, Foodservice and International channels; Q2 net sales rose 3% and year-to-date were up 1.9%.Retail volumes declined after a strategic exit from non-core private-label snack nuts, while Foodservice and International volumes grew modestly.Brand strength came from Jennie‑O® turkey, Applegate®, pepperoni portfolio, Herdez® and SPAM® exports; China contributed to international gains.Improved turkey manufacturing network performance helped segment profits despite higher commodity and logistics costs.Company completed the sale of its whole-bird turkey business (recording a loss) and divested 51% of Justin’s (recording a gain) while continuing Transform & Modernize and restructuring initiatives.
Original SEC Filing: HORMEL FOODS CORP /DE/ [ HRL ] – 10-Q – May. 28, 2026
Disclaimer
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.