Hormel Foods Reports Fourth Quarter and Full-Year Fiscal 2025 Results

Hormel Foods Corporation, a Fortune 500 global branded food company, has reported fourth-quarter and full-year fiscal 2025 results. All comparisons are to the same period of fiscal 2024 unless otherwise noted.

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Executive Summary - Fiscal 2025

Net sales of $12.1 billion; organic net sales¹ up 2%

Operating income of $719 million; adjusted operating income¹ of $1,019 million

Operating margin of 5.9%; adjusted operating margin¹ of 8.4%

Earnings before income taxes of $663 million; adjusted earnings before income taxes¹ of $976 million

Effective tax rate of 28.0%

Diluted earnings per share of $0.87; adjusted diluted earnings per share¹ of $1.37

Cash flow from operations of $845 million

Executive Summary - Fourth Quarter

Net sales of $3.2 billion; organic net sales¹ up 2%

Operating income of $2 million; adjusted operating income¹ of $245 million

Operating margin of 0.1%; adjusted operating margin¹ of 7.7%

Non-cash impairment charges of $234 million, primarily related to a minority investment in the

The international segment and certain intangible assets in the Retail segment

Loss before income taxes of $22 million; adjusted earnings before income taxes¹ of $234 million

Diluted loss per share of $0.10; adjusted diluted earnings per share¹ of $0.32

Cash flow from operations of $323 million

In fiscal 2026, the Company expects:

Net sales in the range of $12.2 billion to $12.5 billion; organic net sales¹ growth of 1% to 4%

Operating income in the range of $0.96 billion to $1.03 billion

Adjusted operating income¹ in the range of $1.06 billion to $1.12 billion, growth of 4% to 10%

Diluted earnings per share in the range of $1.29 to $1.39

Adjusted diluted earnings per share¹ in the range of $1.43 to $1.51, growth of 4% to 10%

The company's fiscal 2026 outlook assumes: