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Hormel Foods

HRL Q1 2026 Earnings

Reported Feb 25, 2026 at 5:39 PM ET · SEC Source

Q1 26 EPS

$0.34

BEAT +6.12%

Est. $0.32

Q1 26 Revenue

$3.03B

MISS 1.00%

Est. $3.06B

vs S&P Since Q1 26

-19.9%

TRAILING MARKET

HRL -15.4% vs S&P +4.5%

Market Reaction

Did HRL Beat Earnings? Q1 2026 Results

Hormel Foods posted a mixed but fundamentally steady first quarter of fiscal 2026, delivering an adjusted diluted EPS of $0.34 against a consensus estimate of $0.32, a 6.12% beat, while revenue of $3.03 billion edged 1.3% higher year-over-year but fe… Read more Hormel Foods posted a mixed but fundamentally steady first quarter of fiscal 2026, delivering an adjusted diluted EPS of $0.34 against a consensus estimate of $0.32, a 6.12% beat, while revenue of $3.03 billion edged 1.3% higher year-over-year but fell just short of the $3.06 billion analysts had expected. The profit picture was shaped largely by a sharp divergence between segments: Foodservice notched its 10th consecutive quarter of organic growth, with segment profit climbing 13%, while Retail remained a drag as organic net sales slipped 2% and segment profit fell 19%, pressured by the company's deliberate exit from non-core private label snack nut items and rising input costs. Portfolio simplification, a strategy reshaping major food companies across the industry, remained central to Hormel's narrative, with the completed Justin's divestiture and a pending sale of its whole-bird turkey business expected to reduce fiscal 2026 sales by roughly $50 million. Management reaffirmed full-year adjusted diluted EPS guidance of $1.43 to $1.51 and raised its GAAP EPS outlook to $1.37 to $1.46.

Key Takeaways

  • • Fifth consecutive quarter of organic net sales growth
  • • Foodservice segment delivered 10th consecutive quarter of organic net sales growth driven by customized solutions, premium prepared proteins, and branded pepperoni
  • • International growth led by SPAM luncheon meat and China operations
  • • Pricing actions helping close gap between profitability and top-line growth
  • • Favorable working capital movements boosted operating cash flow
  • • SG&A expense reduction as percent of net sales from 8.8% to 8.0%

HRL Forward Guidance & Outlook

For fiscal 2026, Hormel reaffirms net sales in the range of $12.2 billion to $12.5 billion with organic net sales growth of 1% to 4%. The company updated GAAP operating income guidance to $1.02 billion to $1.08 billion and GAAP diluted EPS to $1.37 to $1.46 (raised from $1.29 to $1.39 previously), reflecting the gain on the Justin's sale. Adjusted operating income guidance is reaffirmed at $1.06 billion to $1.12 billion (4% to 10% growth), and adjusted diluted EPS is reaffirmed at $1.43 to $1.51 (4% to 10% growth). The pending whole-bird turkey business sale is expected to reduce fiscal 2026 net sales by approximately $50 million with minimal impact to adjusted diluted EPS.

24/7 Wall St

HRL YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

HRL Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“We delivered solid first quarter fiscal 2026 results, with adjusted diluted earnings per share of $0.34, supported by our fifth consecutive quarter of organic net sales growth. Our performance this quarter demonstrates the strength of our value-added, protein-centric portfolio and our disciplined execution against our key priorities, including pricing actions that are helping to close the gap between profitability and top-line growth.”

— Jeff Ettinger, Q1 2026 Earnings Press Release

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