Jul 2026 (Q3 FY26) — Aug 27, 2026
Hormel Foods Q3 FY26 — Adjusted EPS Up 6%, Full-Year Outlook Raised
Read the full callHormel Foods (HRL) earnings
- Jul 2026
- Jul 2026 (Q3 FY26)
- Oct 2025
Hormel Foods earnings: last reported Thu, 27 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,961 | −2.4% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 3.8 | −4.2 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 59.6 | −67.6% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
8 of 13 judged targets kept · 8 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Third-quarter adjusted earnings versus prior year | more in line with the prior year | Apr 2026 | adjusted earnings per share was $0.37, up 6% versus last year | Achieved |
| Full-year adjusted diluted earnings per share | $1.43 to $1.51 | Oct 2025 | raise and narrow our fiscal 2026 adjusted earnings outlook to a new range of $1.45 to $1.51 compared to our prior range of $1.43 to $1.51 | Revised Up |
| Full-year Foodservice net sales growth | mid-single digits | Oct 2025 | In Q3, we delivered our 12th consecutive quarter of organic net sales growth | On Track |
5 of HORMEL FOODS CORP /DE/'s 21 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 18 more targets are in the full ledger.
Claimed
- Adjusted earnings per share increased 6% versus last year to $0.37.
- Foodservice segment delivered its 12th consecutive quarter of organic net sales growth.
- Operating cash flow was $241 million, up 54% year-over-year.
- Priority retail brands like Jennie-O ground turkey and Applegate portfolio grew mid- to high single-digits.
Qualified
- Organic net sales declined 2% due to portfolio shaping, softer commodity markets, and a pressured consumer environment.
- Retail segment experienced a high single-digit volume decline, partly due to anticipated elasticities and partly greater than expected.
- Freight and logistics costs remained elevated, presenting year-over-year headwinds.
- International segment was impacted by a one-time legal entity transition that adversely affected SPAM export sales.
Price
$20.35 −0.25% · −$0.05
Performance −15.3% 1Y
1Y: $24.03 on 17 Oct 2025 → $20.35. High $26.51 (26 Jun 2026), low $19.19 (9 Oct 2026).
- Previous close
- $20.4
- 52-week range
- $19.19 – $26.51
- One year
- −15.07%
Overview
- Symbol
- HRL
- Sector
- Consumer Staples
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
8 of 13 judged targets kept · 8 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Third-quarter adjusted earnings versus prior year | more in line with the prior year | Apr 2026 | adjusted earnings per share was $0.37, up 6% versus last year | Achieved |
| Full-year adjusted diluted earnings per share | $1.43 to $1.51 | Oct 2025 | raise and narrow our fiscal 2026 adjusted earnings outlook to a new range of $1.45 to $1.51 compared to our prior range of $1.43 to $1.51 | Revised Up |
| Full-year Foodservice net sales growth | mid-single digits | Oct 2025 | In Q3, we delivered our 12th consecutive quarter of organic net sales growth | On Track |
Claimed
- Adjusted earnings per share increased 6% versus last year to $0.37.
- Foodservice segment delivered its 12th consecutive quarter of organic net sales growth.
- Operating cash flow was $241 million, up 54% year-over-year.
- Priority retail brands like Jennie-O ground turkey and Applegate portfolio grew mid- to high single-digits.
Qualified
- Organic net sales declined 2% due to portfolio shaping, softer commodity markets, and a pressured consumer environment.
- Retail segment experienced a high single-digit volume decline, partly due to anticipated elasticities and partly greater than expected.
- Freight and logistics costs remained elevated, presenting year-over-year headwinds.
- International segment was impacted by a one-time legal entity transition that adversely affected SPAM export sales.
The full ledger
Open HORMEL FOODS CORP /DE/’s full ledger
A free account opens 5 company ledgers a month. All 21 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q2 FY26) — May 28, 2026
Hormel Foods Q2 FY26 – Strong Performance Drives Double-Digit Adjusted Earnings Growth
Read the full callJan 2026 (Q1 FY26) — Feb 26, 2026
Hormel Foods Q1 FY26 — Solid Start with Organic Sales Growth and Strategic Portfolio Focus
Read the full callEvery analysed call
Hormel Foods earnings calls (HRL)
Financials
What the filings say
Net profit, year on year: −68% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,138 | 2,989 | 2,899 | 3,033 | 3,186 | 3,027 | 2,973 | 2,961 |
| Operating profit | 294 | 228 | 248 | 240 | 2 | 244 | 217 | 111 |
| Operating margin | 9.4% | 7.6% | 8.6% | 7.9% | 0.1% | 8.1% | 7.3% | 3.8% |
| Other income | -54 | 61 | 65 | 46 | 407 | 41 | 127 | 130 |
| Interest | 19 | 19 | 20 | 19 | 20 | 20 | 20 | 20 |
| Profit before tax | 280 | 218 | 230 | 237 | -22 | 234 | 206 | 103 |
| Tax rate | 21.4% | 21.8% | 22.0% | 22.3% | −159.9% | 22.4% | 23.6% | 42.3% |
| Net profit | 220 | 171 | 180 | 184 | -56 | 182 | 157 | 60 |
| EPS ($ per share) | — | 0.31 | 0.33 | 0.33 | — | 0.33 | 0.29 | 0.11 |
| Line item | Oct 2018 | Oct 2019 | Oct 2020 | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 8 | 8 | 8 | 8 | — | — | — | — |
| Reserves | 5,730 | 6,128 | 6,523 | 6,882 | 7,313 | 7,493 | 7,678 | 7,517 |
| Total liabilities | 2,537 | 2,183 | 3,478 | 5,718 | 5,767 | 5,710 | 5,431 | 5,477 |
| Fixed assets | 1,513 | 1,629 | 1,898 | 2,109 | 2,141 | 2,166 | 2,195 | 2,239 |
| Investments | 0 | 15 | 17 | 21 | 16 | 17 | 25 | 33 |
| Total assets | 8,142 | 8,109 | 9,908 | 12,696 | 13,307 | 13,449 | 13,435 | 13,393 |
| Line item | Oct 2018 | Oct 2019 | Oct 2020 | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,242 | 923 | 1,128 | 1,002 | 1,135 | 1,048 | 1,267 | 845 |
| Cash from investing | -1,235 | 220 | -656 | -3,626 | -258 | -690 | -237 | -299 |
| Cash from financing | 12 | -926 | 566 | 1,521 | -487 | -600 | -1,030 | -614 |
| Net cash flow | 15 | 214 | 1,041 | -1,101 | 369 | -246 | 5 | -71 |
| Capital expenditure | -390 | -294 | -368 | -232 | -279 | -270 | -256 | -311 |
| Free cash flow | 852 | 629 | 761 | 770 | 856 | 778 | 1,010 | 534 |
HRL revenue by segment
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Retail | 61% | 63% | 62% | 61% | 60% | 61% | 60% | 60% | -4.3% |
| Foodservice | 33% | 31% | 32% | 33% | 34% | 33% | 34% | 34% | +1.6% |
| International | 6% | 6% | 6% | 6% | 5% | 6% | 6% | 6% | -4.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
49 filings between Dec 6, 2025 and Oct 13, 2026.
Open market
decisions to buy or sellPurchases
$201.0K
1 purchase by 1 insider
Sales
$816.8K
2 sales by 2 insiders
Compensation
not trading decisions- 35
- Award — granted as compensation
- 9
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Bhojwani Gary C. | — | $495.2K | Jul 8, 2026 |
| Murano Elsa A | — | $321.6K | Dec 11, 2025 |
| Newlands William A | $201.0K | — | Oct 5, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 13, 2026 | Bhumbla Ash Executive VP & CFO | Award | 62,468 | $0 |
| Oct 5, 2026 | Newlands William A Director | Purchase | 10,000 | $201.0K |
| Oct 3, 2026 | Myers Kevin L SENIOR VICE PRESIDENT | Tax withheld | 864 | $17.5K |
| Sep 30, 2026 | White Steven Andrew Director | Award | 3,028 | $60.4K |
| Sep 30, 2026 | Newlands William A Director | Award | 7,635 | $152.3K |
| Sep 30, 2026 | Bhojwani Gary C. Director | Award | 3,028 | $60.4K |
| Sep 30, 2026 | Policinski Christopher J. Director | Award | 2,830 | $56.4K |
| Sep 30, 2026 | Schoneman Debbra L. Director | Award | 1,514 | $30.2K |
| Jul 8, 2026 | Bhojwani Gary C. Director | Sale | 20,200 | $495.2K |
| Jun 9, 2026 | Bonifant William W. GVP, Chief Supply Chain Ofc. | Award | 5,734 | $0 |
| Jun 9, 2026 | Borrelli Domenic EVP, Retail | Award | 8,341 | $0 |
| Apr 27, 2026 | Aakre D Scott Director | Tax withheld | 1,722 | $37.0K |
| Apr 14, 2026 | Bonifant William W. GVP, Chief Supply Chain Ofc. | Award | 12,043 | $0 |
| Mar 31, 2026 | Policinski Christopher J. Director | Award | 2,492 | $56.4K |
| Mar 31, 2026 | White Steven Andrew Director | Award | 2,666 | $60.4K |
| Mar 31, 2026 | Newlands William A Director | Award | 6,722 | $152.2K |
| Mar 31, 2026 | Bhojwani Gary C. Director | Award | 2,666 | $60.4K |
| Mar 31, 2026 | Schoneman Debbra L. Director | Award | 1,333 | $30.2K |
| Mar 18, 2026 | White Steven Andrew Director | Gift | 5,405 | $0 |
| Mar 18, 2026 | White Steven Andrew Director | Gift | 5,405 | $0 |
| Feb 2, 2026 | Aakre D Scott Director | Award | 6,541 | $0 |
| Feb 2, 2026 | LACY STEPHEN M Director | Award | 6,541 | $0 |
| Feb 2, 2026 | SMITH SALLY J Director | Award | 6,541 | $0 |
| Feb 2, 2026 | Ghingo John F President | Award | 32,707 | $0 |
| Feb 2, 2026 | Zechmeister Michael Paul Director | Award | 6,541 | $0 |
| Feb 2, 2026 | White Steven Andrew Director | Award | 6,541 | $0 |
| Feb 2, 2026 | Bhojwani Gary C. Director | Award | 6,541 | $0 |
| Feb 2, 2026 | Newlands William A Director | Award | 6,541 | $0 |
| Feb 2, 2026 | Policinski Christopher J. Director | Award | 6,541 | $0 |
| Feb 2, 2026 | Murano Elsa A Director | Award | 6,541 | $0 |
| Feb 2, 2026 | Schoneman Debbra L. Director | Award | 6,541 | $0 |
| Jan 2, 2026 | Aakre D Scott Director | Award | 5,558 | $0 |
| Dec 11, 2025 | Murano Elsa A Director | Sale | 13,400 | $321.6K |
| Dec 9, 2025 | Kuehneman Paul R INTERIM CFO AND CONTROLLER | Award | 12,696 | $0 |
| Dec 9, 2025 | Lilly Pierre M Senior Vice President | Award | 4,232 | $0 |
| Dec 9, 2025 | Lilly Pierre M Senior Vice President | Award | 4,232 | $0 |
| Dec 9, 2025 | Neufeldt Swen GROUP VICE PRESIDENT | Award | 7,618 | $0 |
| Dec 9, 2025 | Myers Kevin L GROUP VICE PRESIDENT | Award | 10,792 | $0 |
| Dec 9, 2025 | Batcheler Colleen Senior Vice President | Award | 21,160 | $0 |
| Dec 9, 2025 | Losness-Larson Katherine M SENIOR VICE PRESIDENT | Award | 8,464 | $0 |
| Dec 9, 2025 | Weber David F Group Vice President | Award | 5,925 | $0 |
| Dec 9, 2025 | Clark Mary Katherine Senior Vice President | Award | 3,598 | $0 |
| Dec 6, 2025 | Aakre D Scott Director | Tax withheld | 605 | $14.7K |
| Dec 6, 2025 | Weber David F Group Vice President | Tax withheld | 538 | $13.1K |
| Dec 6, 2025 | Losness-Larson Katherine M SENIOR VICE PRESIDENT | Tax withheld | 672 | $16.4K |
| Dec 6, 2025 | Myers Kevin L GROUP VICE PRESIDENT | Tax withheld | 1,343 | $32.7K |
| Dec 6, 2025 | Kuehneman Paul R INTERIM CFO AND CONTROLLER | Tax withheld | 619 | $15.1K |
| Dec 6, 2025 | Lilly Pierre M SVP & CHIEF COMPLIANCE OFFICER | Tax withheld | 619 | $15.1K |
| Dec 6, 2025 | Neufeldt Swen GROUP VICE PRESIDENT | Tax withheld | 1,091 | $26.6K |
| Sep 30, 2025 | White Steven Andrew Director | Award | 2,546 | $63.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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