Hormel Foods Corporation · NYSE:HRL
Hormel Foods — Q1 2026 Earnings Presentation
16 slides from Hormel Foods's earnings presentation, Feb 26, 2026
Slide 1: First Quarter Fiscal 2026
FEBRUARY 26, 2026 FIRST QUARTER FISCAL 2026
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation 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," “p
Slide 3: Key Messages
KEY MESSAGES Solid start to fiscal 2026 5th consecutive quarter of organic net sales1 growth, driven by strength in value-added, protein-centric portfolio Portfolio shaping to sharpen focus on value-added protein offerings Reaffirms adjusted full year fiscal 2026 guidance 1 Non-GAAP measure. See App
Slide 4: Five Consecutive Quarters of Organic Net Sales Growth
FIVE CONSECUTIVE QUARTERS OF Organic Net Sales1 Growth: Q1 FY ’26 compared to Q1 FY ‘25 ORGANIC NET SALES1 GROWTH Total Company Organic Net Sales1 (2) % +6% +2% +1% +2% Retail +1% +7 Foodservice % +8 % International FY ‘24 FY ‘25 FY ‘24 FY ‘25 FY ‘24 FY ‘25 FY ‘24 FY ‘25 FY ‘25 FY ‘26 Q1 Q2 Q3 Q4 Q1
Slide 5: A Path to Winning: Enterprise Strategic Priorities
ENTERPRISE STRATEGIC PRIORITIES A PATH TO WINNING EXPAND TRANSFORM ACCELERATE 1 4 Strengthen our protein- Unlock growth through powered brands our supply chain 2 Build enterprise-wide 5 7 Simplify, streamline and Fuel growth through growth platforms evolve our company talent, capabilities and cultur
Slide 6: Portfolio Shaping: Whole-Bird Turkey Business
PORTFOLIO SHAPING: WHOLE-BIRD TURKEY BUSINESS Definitive Agreement to Sell Whole-bird Financial Impact Turkey Business The transaction includes the sale of: Minimal expected impact to full-year fiscal 2026 adjusted results1: • Hen business: • Estimated $50 million in net sales impact • Includes prod
Slide 7: Hormel Turkey Business Moving Forward
HORMEL TURKEY BUSINESS MOVING FORWARD VALUE-ADDED TURKEY STRATEGICALLY IMPORTANT TO PORTFOLIO Core Value-added Turkey Post-Transaction Turkey Platform Operations Remain Jennie-O® will continue to be a leader in the turkey industry with value-added products such as: Remain vertically Jennie-O® Ground
Slide 8: Fiscal 2026 Guidance
FISCAL 2026 GUIDANCE Reaffirms Adjusted Full Year Fiscal 2026 Financial Guidance UPDATED PREVIOUS Net Sales $12.2 - $12.5 billion $12.2 - $12.5 billion Operating Income $1.02 - $1.08 billion $0.96 - $1.03 billion 1 Adj. Operating Income $1.06 - $1.12 billion $1.06 - $1.12 billion Diluted EPS $1.37 -
Slide 9: Long-Term Strategy Supports Profitable Growth
LONG-TERM STRATEGY SUPPORTS PROFITABLE GROWTH LONG-TERM GROWTH ALGORITHM Net Sales •Consumer-focused, protein-centric portfolio 2-3% Organic net sales1 growth •Leading and differentiated brands •Fueled by innovation •Organized for long-term growth Operating Income •Stable financial performance 5-7%
Slide 10: Enterprise Clarity
ENTERPRISE CLARITY OUR PURPOSE Fueling every day with real food for real life.
Slide 11: Appendix
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Slide 12: Non-GAAP Measures
NON-GAAP MEASURES This presentation 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
Slide 13: Non-GAAP Measures (Continued)
NON-GAAP MEASURES (CONTINUED) Gain on Sale of Business In the first quarter of fiscal 2026, the Company sold 51% of its equity interest in Justin's, LLC, resulting in a gain on the sale. The Company believes the one-time impact from the sale is not reflective of the Company’s ongoing operating cost
Slide 14: Non-GAAP Measures (Continued)
NON-GAAP MEASURES (CONTINUED) 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
Slide 15: Non-GAAP Measures (Continued)
NON-GAAP MEASURES (CONTINUED) Forward-looking GAAP to Non-GAAP Measures These disclosures show the reconciliation from the estimated fiscal 2026 GAAP measure to the estimated non-GAAP adjusted measure. Our fiscal 2026 outlook for adjusted operating income and diluted earnings per share are non-GAAP
Slide 16: Non-GAAP Measures (Continued)
NON-GAAP MEASURES (CONTINUED) Forward-looking GAAP to Non-GAAP Measures (Continued) Fiscal 2026 Outlook – Adjusted Diluted Earnings per Share (Non-GAAP) In fiscal 2026, the Company expects: • Diluted earnings per share (GAAP) in the range of $1.37 to $1.461 • Adjustments for the T&M initiative of $0