Business
HORMEL FOODS REPORTS STRONG SECOND QUARTER FISCAL 2026 RESULTS
HORMEL FOODS REPORTS STRONG SECOND QUARTER FISCAL 2026
About this update from Hormel Foods Corporation
[{"type":"text","content":"Company Delivers Sixth Consecutive Quarter of Organic Top-Line Growth, GAAP EPS of $0.29 and Double-Digit Growth in Adjusted EPS1AUSTIN, Minn., May 28, 2026 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today reported results for the second quarter of fiscal 2026, which ended April 26, 2026. All comparisons are to the comparable period of fiscal 2025, unless otherwise noted.EXECUTIVE SUMMARY — SECOND QUARTERNet sales of $2.97 billion; organic net sales1 up 3%Operating income of $217 million; adjusted operating income1 of $294 millionOperating margin of 7.3%; adjusted operating margin1 of 9.9%Earnings before income taxes of $206 million; adjusted earnings before income taxes1 of $283 millionDiluted earnings per share of $0.29; adjusted diluted earnings per share1 of $0.40Cash flow from operations of $179 millionEXECUTIVE COMMENTARY\"We delivered strong second quarter results marked by profitable growth and improved performance,\" said Jeff Ettinger, interim chief executive officer. \"We achieved our sixth consecutive quarter of organic top-line growth, expanded gross margins, and attained double-digit growth in adjusted earnings.1 This was an excellent quarter and gives us even greater confidence in our ability to deliver our full-year outlook.\"\"Our teams are executing at a high level across the organization, driving impressive performance from our protein-centric portfolio,\" said John Ghingo, president. \"Each segment delivered both net sales and segment profit growth in the second quarter, reflecting broad-based strength across the business and the impact of our strategy. We are encouraged by our results and confident in how the business is performing.\"FULL YEAR FISCAL 2026 GUIDANCEFor fiscal 2026, the Company:Reaffirms net sales in the range of $12.2 billion to $12.5 billion and organic net sales1 growth of 1% to 4%Updates operating income guidance to be in the range of $0.96 billion to $1.02 billion, which includes the loss on the sale of the whole-bird turkey business Reaffirms adjusted operating income1 to be in the range of $1.06 billion to $1.12 billion, reflecting growth of 4% to 10%Updates diluted earnings per share guidance to be in the range of $1.28 to $1.37Reaffirms adjusted diluted earnings per share1 to be in the range of $1.43 to $1.51, reflect...