Hormel Foods Corporation · NYSE:HRL
Hormel Foods — Q2 2026 Earnings Presentation
18 slides from Hormel Foods's earnings presentation, May 28, 2026
Slide 1: Second Quarter Fiscal 2026
MAY 28, 2026 SECOND 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 Delivered an excellent second quarter - 6th consecutive quarter of organic net sales1 growth - Double-digit adjusted diluted EPS1 growth Each segment delivered net sales and segment profit growth Company reaffirmed full-year fiscal 2026 net sales and adjusted diluted EPS1 guidance Confi
Slide 4: Delivered Consistent Top-Line Growth in a Dynamic Consumer Environment
1 DELIVERED CONSISTENT TOP-LINE GROWTH IN Organic Net Sales Growth: Q2 FY ’26 compared to Q2 FY ‘25 A DYNAMIC CONSUMER ENVIRONMENT +1 % Six Consecutive Quarters of Total Company Organic Net Sales1 Growth +2% Retail +6% +3% +1% +2% +7 +1% % Foodservice +5 % International FY ‘24 FY ‘25 FY ‘24 FY ‘25 F
Slide 5: Second Quarter Double-Digit Adjusted EPS Growth
SECOND QUARTER DOUBLE-DIGIT ADJUSTED EPS1 GROWTH Results for the quarter exceeded expectations TAILWINDS TOP-LINE GROWTH FROM EACH SEGMENT PRICING ACTIONS FAVORABLE MIX LOGISTICS EXPENSES IMPROVED PERFORMANCE IN TURKEY NETWORK FUEL COSTS PROGRESS ON EXECUTION DYNAMIC CONSUMER LANDSCAPE OTHER INCOME
Slide 6: Segment Highlights: Retail
SEGMENT HIGHLIGHTS RETAIL Q2 COMMENTARY Retail FY26 Q2 • Organic net sales1 grew, as strong performance in Segment YoY Percent Change Jennie-O® ground turkey was partially offset by the strategic exit from select non-core private label snack nut items. Volume (2)% • Additional priority brands such a
Slide 7: Segment Highlights: Foodservice
SEGMENT HIGHLIGHTS FOODSERVICE Q2 COMMENTARY Foodservice FY26 Q2 • 11th consecutive quarter of organic net sales1 growth for the Segment YoY Percent Change segment. • Net sales growth was broad-based across multiple product groups and categories, supported by our solutions-based portfolio and the ca
Slide 8: Segment Highlights: International
SEGMENT HIGHLIGHTS INTERNATIONAL Q2 COMMENTARY International FY26 Q2 • Volume and organic net sales1 grew in the second Segment YoY Percent Change quarter of fiscal 2026. • Organic net sales1 growth was driven by strong results from branded exports, led by the SPAM® Volume +1% brand, and growth in t
Slide 9: Fiscal 2026 Outlook
FISCAL 2026 OUTLOOK UPDATED PREVIOUS COMMENTARY For fiscal 2026, the Company expects: Net Sales $12.2 - $12.5 billion $12.2 - $12.5 billion • Organic net sales1 growth of 1% to 4% Operating • Retail: Modest declines in volume and flat to low single digit growth Income $0.96 - $1.02 billion $1.02 - $
Slide 10: 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 11: Appendix
APPENDIX 11
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 or Loss on Sale of Business In the second quarter of fiscal 2026, the Company completed the sale of its whole-bird turkey business, resulting in a loss on the sale. In the first quarter of fiscal 2026, the Company sold 51% of its equity interest in Justin's, LLC, r
Slide 14: Non-GAAP Measures (Continued)
NON-GAAP MEASURES (CONTINUED) 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
Slide 15: Adjusted Diluted Earnings Per Share (Non-GAAP)
NON-GAAP MEASURES (CONTINUED) Adjusted Diluted Earnings Per Share (Non-GAAP) (1) Comprised primarily of asset write-offs and severance related to supply chain and portfolio optimization. 15
Slide 16: Organic Volume and Organic Net Sales (Non-GAAP)
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 17: Forward-looking GAAP to Non-GAAP Measures
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 18: Forward-looking GAAP to 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 $1.28 to $1.37 • Adjustments for the T&M initiative of $0.