Hormel Foods Corporation · NYSE:HRL
Hormel Foods — Q4 2025 Earnings Presentation
16 slides from Hormel Foods's earnings presentation, Dec 4, 2025
Slide 1: Fourth Quarter Fiscal 2025
DECEMBER 4, 2025 FOURTH QUARTER FISCAL 2025
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: Today's Key Messages
TODAY’S KEY MESSAGES Delivered strong top-line performance in fiscal 2025, with four consecutive quarters of organic net sales1 growth Despite top-line momentum, earnings were challenged during the year Company sees clear path for profitable growth in fiscal 2026 1 Non-GAAP measure. See Appendix: No
Slide 4: Fiscal 2025 Performance
FISCAL 2025 PERFORMANCE Continued top-line growth with strong Profitability challenged, resulted in protein-centric portfolio disappointing bottom-line performance TAILWINDS • Elevated input costs, driven primarily by • Achieved net sales growth in all three heightened commodity costs segments • Cha
Slide 5: Four Consecutive Quarters of Organic Net Sales Growth
FOUR CONSECUTIVE QUARTERS OF ORGANIC NET SALES GROWTH 1 Annual growth supported by each segment Organic Net Sales1 Organic Net Sales1 Growth: Full Year +2% +1% +1% +6% + 2% Total Company Organic Net Sales1 Growth FY ‘24 FY ‘25 FY ‘24 FY ‘25 FY ‘24 FY ‘25 FY ‘24 FY ‘25 + 1 % Retail + 5 % Foodservice1
Slide 6: Balanced, Protein-Centric Portfolio
BALANCED, PROTEIN-CENTRIC PORTFOLIO Net Sales Leading Brands Net Sales by Key Input2 32% LEADER IN 40+ Foodservice 62% Retail Pork ~45% FY ’25 $12B CATEGORIES1 Non-meat ~20% Turkey ~15% 6% Beef Other International ~15% ~5% 1 Circana 52 weeks ended 11-02-2025 - MULO; NielsenIQ Total US xAOC 52 weeks
Slide 7: Operational Initiative Fuels Future Growth
OPERATIONAL INITIATIVE FUELS FUTURE GROWTH +120 Delivered Our Transform and Modernize benefits initiative is helping us unlock the full value of our portfolio by Projects contributed building long-lasting value in 2025 within stated range capabilities, future-fitting our supply chain, and further de
Slide 8: Record Cash Returned to Shareholders Through Dividends
RECORD CASH RETURNED TO SHAREHOLDERS THROUGH DIVIDENDS Announced 60th consecutive increase to our annual dividend 4% $633M 5 yr CAGR $1.16 $1.17 $1.13 in dividends for FY ‘25 $1.10 $0.98 $1.04 60 Dividend FY ‘21 FY ‘22 FY ‘23 FY ‘24 FY ‘25 FY ‘26 Consecutive Years of Dividend Aristocrat Increases *A
Slide 9: Fiscal 2026 Focus Areas
FISCAL 2026 FOCUS AREAS Clear strategic compass and commitment to reshape earnings trajectory Consumer 1 Design solutions and experiences that uniquely meet, and even exceed, needs for Obsession food occasions Unlocking new growth by stretching our Beyond 2 Boundaries portfolio to its full potential
Slide 10: Fiscal 2026 Outlook
FISCAL 2026 OUTLOOK Company introduces achievable and realistic guidance ranges Fiscal 2026 Outlook Commentary For fiscal 2026, the Company expects: Net Sales $12.2 - $12.5 billion • Organic net sales1 growth of 1% to 4% • Retail: Modest declines in volume and low single digit growth in organic net
Slide 11: 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 12: Appendix
APPENDIX 13
Slide 13: 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 b
Slide 14: Non-GAAP Measures Continued
NON-GAAP MEASURES CONTINUED Organic Net Sales (Non-GAAP) The non-GAAP measure of organic net sales is presented to provide investors with additional information to facilitate the comparison of past and present operations. Organic net sales excludes the impact of the sale of Hormel Health Labs, LLC i
Slide 15: Non-GAAP Measures Continued
NON-GAAP MEASURES CONTINUED Forward-looking GAAP to Non-GAAP Measures This table shows the calculation to reconcile from the estimated fiscal 2026 GAAP measure to the estimated non-GAAP adjusted measure. Fiscal 2026 Outlook – Organic Net Sales (Non-GAAP) To provide a clearer comparison of past and p
Slide 16: Non-GAAP Measures Continued
NON-GAAP MEASURES CONTINUED Forward-looking GAAP to Non-GAAP Measures 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. These disclosures show the reconciliatio