HORMEL FOODS CORP /DE/ reported fiscal year 2026 results: revenue $12.2 billion to $12.5 billion, EPS $1.28 to $1.37. Guidance lowered.
“FULL YEAR FISCAL 2026 GUIDANCE For fiscal 2026, the Company: • Reaffirms net sales in the range of $12.2 billion to $12.5 billion and organic net sales 1 growth of 1% to 4% • Updates operating income guidance to be in the range of $0.96 billion to $1.02 billion, which includes the loss on the sale of the whole-bird turkey business • Reaffirms adjusted operating income 1 to be in the range of $1.06 billion to $1.12 billion, reflecting growth of 4% to 10% • Updates diluted earnings per share guidance to be in the range of $1.28 to $1.37 • Reaffirms adjusted diluted earnings per share 1 to be in the range of $1.43 to $1.51, reflecting growth of 4% to 10%”
Earnings Releases
HORMEL FOODS CORP /DE/ reported the second quarter ended April 26, 2026 results: revenue $2.97 billion, EPS $0.29.
“Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today reported results for the second quarter of fiscal 2026, which ended April 26, 2026. All comparisons are to the comparable period of fiscal 2025, unless otherwise noted. EXECUTIVE SUMMARY — SECOND QUARTER • Net sales of $2.97 billion; organic net sales 1 up 3% • Operating income of $217 million; a djusted operating income 1 of $294 million • Operating margin of 7.3% ; adjusted operating margin 1 of 9.9% • Earnings before income taxes of $206 million; a djusted earnings before income taxes 1 of $283 million • Diluted earnings per share of $0.29; a djusted diluted earnings per share 1 of $0.40 • Cash flow from operations of $179 million”
Restructurings & Charges
HORMEL FOODS CORP /DE/ announced a restructuring with charges of $20 million to $25 million (approximately 250 corporate and sales roles).
“most of the related employee departures to occur by December 31, 2025. In connection with this restructuring, the Company expects to incur restructuring charges in the range of $20 million to $25 million. Substantially all the charges are expected to be related to one-time pension benefits, cash severance payments, stock compensation expenses, and employee benefit”
John F. Ghingo was appointed as member of the Board at HORMEL FOODS CORP /DE/.
“The Board has also appointed Mr. Ghingo as a member of the Board, effective as of July 14, 2025.”
John F. Ghingo was appointed as President at HORMEL FOODS CORP /DE/.
“the Board has appointed Mr. Jeffrey M. Ettinger as the Interim Chief Executive Officer of the Company (the 'Interim CEO') and Mr. John F. Ghingo as the President of the Company (the 'President'), in each case effective as of July 14, 2025.”
Jeffrey M. Ettinger was appointed as Interim Chief Executive Officer at HORMEL FOODS CORP /DE/.
“the Board has appointed Mr. Jeffrey M. Ettinger as the Interim Chief Executive Officer of the Company (the 'Interim CEO') and Mr. John F. Ghingo as the President of the Company (the 'President'), in each case effective as of July 14, 2025.”
James P. Snee departed as President at HORMEL FOODS CORP /DE/.
“James P. Snee, President and Chief Executive Officer ('CEO') of the Company will be retiring at the end of the Company's fiscal year 2025, which ends October 26, 2025.”
James P. Snee departed as President and Chief Executive Officer at HORMEL FOODS CORP /DE/.
“James P. Snee, President and Chief Executive Officer ('CEO') of the Company will be retiring at the end of the Company's fiscal year 2025, which ends October 26, 2025.”
D. Scott Aakre was elected as Director at HORMEL FOODS CORP /DE/.
“On May 15, 2025, the Board of Directors (the Board) of Hormel Foods Corporation (the Company) elected D. Scott Aakre, the Company’s Group Vice President and Chief Marketing Officer – Retail, to the Board, effective the same date.”
Jeffrey Ettinger was elected as Director at HORMEL FOODS CORP /DE/.
“the Board of Directors (the Board) of Hormel Foods Corporation (the Company) elected Jeffrey Ettinger to the Board, effective March 21, 2025.”
James P. Snee departed as President and Chief Executive Officer at HORMEL FOODS CORP /DE/.
“James P. Snee, Chairman of the Board (“Chairman”), President and Chief Executive Officer (“CEO”) of the Company and the Company have agreed that Mr. Snee will retire at the end of the Company’s fiscal year 2025, which ends October 26, 2025.”
Debbra Schoneman was elected as Director at HORMEL FOODS CORP /DE/.
“On September 21, 2024, the Board of Directors (the Board) of Hormel Foods Corporation (the Company) elected Debbra Schoneman to the Board, effective immediately on September 21, 2024.”
Deanna Brady departed as executive vice president, retail at HORMEL FOODS CORP /DE/.
“On August 13, 2024, Deanna Brady, executive vice president, retail, of Hormel Foods Corporation (the “Company”) gave notice of her intent to retire at the end of fiscal 2024, October 27, 2024.”
Jose Luis Prado resigned as Director at HORMEL FOODS CORP /DE/.
“On March 25, 2024, the Board of Directors (the “Board”) of Hormel Foods Corporation (the “Company”), upon recommendation of the Governance Committee, accepted the resignation of Mr. Jose Luis Prado as a member of the Board, effective immediately.”
Debt Financings
HORMEL FOODS CORP /DE/ incurred senior notes of $500,000,000 with U.S. Bank Trust Company, National Association at 4.800% maturing March 30, 2027.
“, 2011 (the “ Indenture ”), between the Company and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee (the “Trustee”).”
Material Agreements
HORMEL FOODS CORP /DE/ entered into Underwriting Agreement with BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters valued at $500,000,000 (effective 2024-03-05).
“On March 5, 2024, Hormel Foods Corporation (the “ Company ”) entered into an Underwriting Agreement (the “ Underwriting Agreement ”) with BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters listed in Schedule 1 therein (collectively, the “ Underwriters ”), pursuant to which the Company agreed to issue and sell and the Underwriters have severally agreed to purchase an aggregate principal amount of $500,000,000 principal amount of its 4.800% Notes due 2027 (the “ Notes ”)”
Earnings Releases
HORMEL FOODS CORP /DE/ reported financial results for first quarter ended January 28, 2024.
“On February 29, 2024, Hormel Foods Corporation (the Company) issued an earnings release announcing its financial results for the first quarter ended January 28, 2024.”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Advisory vote to approve the Company's Named Executive Officer compensation as disclosed in the Company's 2024 annual meeting proxy statement (as filed with the Securities and Exchange Commission on December 20, 2023) at the 2024-01-30 meeting.
“4. Advisory vote to approve the Company's Named Executive Officer compensation as disclosed in the Company's 2024 annual meeting proxy statement (as filed with the Securities and Exchange Commission on December 20, 2023): For 444,749,410 Against 15,348,953 Abstain 1,335,423 Broker Non-Vote 37,219,876”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending October 27, 2024 at the 2024-01-30 meeting.
“3. Ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending October 27, 2024: For 488,559,886 Against 9,353,747 Abstain 740,029”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Approve the amendment of the Company's Restated Certificate of Incorporation to allow for exculpation of officers as permitted by Delaware law at the 2024-01-30 meeting.
“2. Approve the amendment of the Company's Restated Certificate of Incorporation to allow for exculpation of officers as permitted by Delaware law: For 443,753,912 Against 16,695,831 Abstain 984,043 Broker Non-Vote 37,219,876”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Election of Directors at the 2024-01-30 meeting.
“1. Election of Directors: The nominees in the proxy statement were: Prama Bhatt, Gary C. Bhojwani, Stephen M. Lacy, Elsa A. Murano, Ph.D., William A. Newlands, Christopher J. Policinski, Jose Luis Prado, Sally J. Smith, James P. Snee, Steven A. White, Raymond G. Young, and Michael P. Zechmeister. The results were as follows: DIRECTOR : FOR AGAINST ABSTAIN BROKER NON-VOTE Prama Bhatt 454,871,443 5,800,227 762,116 37,219,876 Gary C. Bhojwani 441,297,654 19,462,215 673,917 37,219,876 Stephen M. Lacy 435,958,866 24,824,637 650,283 37,219,876 Elsa A. Murano, Ph.D. 448,996,030 11,767,456 670,300 37,219,876 William A. Newlands 450,513,938 10,180,027 739,821 37,219,876 Christopher J. Policinski 452,666,246 8,141,543 625,997 37,219,876 Jose Luis Prado 451,293,051 9,452,610 688,125 37,219,876 Sally J. Smith 454,929,354 5,898,575 605,857 37,219,876 James P. Snee 443,976,459 16,140,165 1,317,162 37,219,876 Steven A. White 449,293,787 11,393,721 746,278 37,219,876 Raymond G. Young 456,056,972 4,675”
Raymond G. Young resigned as Director at HORMEL FOODS CORP /DE/.
“On February 1, 2024, Raymond G. Young resigned from the Hormel Foods Corporation Board of Directors, effective immediately, having meaningfully contributed to the Board during his tenure.”
Mark Coffey departed as group vice president of supply chain at HORMEL FOODS CORP /DE/.
“Mark Coffey, group vice president of supply chain, will retire at the end of the second quarter of fiscal 2024.”
Earnings Releases
HORMEL FOODS CORP /DE/ reported financial results for the fourth quarter ended October 29, 2023.
“the Company issued an earnings release announcing its financial results for the fourth quarter ended October 29, 2023”
Lori J. Marco departed as Senior Vice President, External Affairs and General Counsel at HORMEL FOODS CORP /DE/.
“On November 13, 2023, in connection with the previously disclosed separation of Lori J. Marco, the Senior Vice President, External Affairs and General Counsel of Hormel Foods Corporation (the “Company”), the Company and Ms. Marco entered into a separation agreement and general release (the “Separation Agreement”).”
Lori J. Marco departed as Senior Vice President, External Affairs and General Counsel at HORMEL FOODS CORP /DE/.
“On September 25, 2023, Hormel Foods Corporation (the “Company”) determined that Lori J. Marco, the Company’s Senior Vice President, External Affairs and General Counsel, will separate from the Company effective as of October 27, 2023.”
Earnings Releases
HORMEL FOODS CORP /DE/ reported financial results for the third quarter ended July 30, 2023.
“On August 31, 2023, Hormel Foods Corporation (the Company) issued an earnings release announcing its financial results for the third quarter ended July 30, 2023.”
Earnings Releases
HORMEL FOODS CORP /DE/ reported financial results for the second quarter ended April 30, 2023.
“On June 1, 2023 , the Company issued an earnings release announcing its financial results for the second quarter ended April 30, 2023.”
Mike Zechmeister was elected as Director at HORMEL FOODS CORP /DE/.
“On March 27, 2023, Hormel Foods Corporation (the Company) elected Ray Young and Mike Zechmeister to its Board of Directors, effective immediately.”
Ray Young was elected as Director at HORMEL FOODS CORP /DE/.
“On March 27, 2023, Hormel Foods Corporation (the Company) elected Ray Young and Mike Zechmeister to its Board of Directors, effective immediately.”
Earnings Releases
HORMEL FOODS CORP /DE/ reported financial results for first quarter ended January 29, 2023.
“On March 2, 2023, the Company issued an earnings release announcing its financial results for the first quarter ended January 29, 2023.”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders rejected Stockholder proposal requesting the Company comply with World Health Organization guidelines on antimicrobial use throughout its supply chains at the 2023-01-31 meeting.
“5. Stockholder proposal requesting the Company comply with World Health Organization guidelines on antimicrobial use throughout its supply chains: For: 27,382,976 Against: 436,218,732 Abstain: 2,352,629 Broker Non-Vote: 35,123,856”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Advisory vote to determine the frequency of the stockholder advisory vote to approve Named Executive Officer compensation set forth in the Company’s proxy statement at the 2023-01-31 meeting.
“4. Advisory vote to determine the frequency of the stockholder advisory vote to approve Named Executive Officer compensation set forth in the Company’s proxy statement: Every Year: 460,832,645 Every Two Years: 428,255 Every Three Years: 3,927,412 Abstain: 766,025 Broker Non-Vote: 35,123,856”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Advisory vote to approve the Company’s Named Executive Officer compensation as disclosed in the Company’s 2023 annual meeting proxy statement (as filed with the Securities and Exchange Commission on December 21, 2022) at the 2023-01-31 meeting.
“3. Advisory vote to approve the Company’s Named Executive Officer compensation as disclosed in the Company’s 2023 annual meeting proxy statement (as filed with the Securities and Exchange Commission on December 21, 2022): For: 453,374,829 Against: 11,351,300 Abstain: 1,228,208 Broker Non-Vote: 35,123,856”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending October 29, 2023 at the 2023-01-31 meeting.
“2. Ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending October 29, 2023: For: 490,062,300 Against: 10,521,289 Abstain: 494,604”
Shareholder Votes
HORMEL FOODS CORP /DE/ shareholders approved Election of Directors at the 2023-01-31 meeting.
“1. Election of Directors: The nominees in the proxy statement were: Prama Bhatt, Gary C. Bhojwani, Stephen M. Lacy, Elsa A. Murano, Ph.D., Susan K. Nestegard, William A. Newlands, Christopher J. Policinski, Jose Luis Prado, Sally J. Smith, James P. Snee, and Steven A. White. The results were as follows: DIRECTOR : FOR AGAINST ABSTAIN BROKER NON-VOTE Prama Bhatt 462,682,222 2,656,200 615,915 35,123,856 Gary C. Bhojwani 431,658,836 33,861,891 433,610 35,123,856 Stephen M. Lacy 442,535,774 23,024,674 393,889 35,123,856 Elsa A. Murano, Ph.D. 457,109,309 8,431,017 414,011 35,123,856 Susan K. Nestegard 456,931,326 8,549,676 473,335 35,123,856 William A. Newlands 462,501,732 3,017,270 435,335 35,123,856 Christopher J. Policinski 459,824,596 5,750,039 379,702 35,123,856 Jose Luis Prado 463,381,581 2,147,040 425,716 35,123,856 Sally J. Smith 461,538,698 3,981,669 433,970 35,123,856 James P. Snee 452,722,730 10,163,567 3,068,040 35,123,856 Steven A. White 453,354,194 12,217,025 383,118 35,123,85”
Earnings Releases
HORMEL FOODS CORP /DE/ reported financial results for the fourth quarter ended October 30, 2022.
“On November 30, 2022, the Company issued an earnings release announcing its financial results for the fourth quarter ended October 30, 2022.”
Paul Kuehneman was appointed as vice president and controller at HORMEL FOODS CORP /DE/.
“Paul Kuehneman, assistant controller, will advance to the position of vice president and controller succeeding Jana Haynes.”
Jana Haynes resigned as vice president and controller at HORMEL FOODS CORP /DE/.
“Haynes gave the Company notice of her resignation on January 21, 2022.”
James N. Sheehan departed as Executive Vice President and Chief Financial Officer at HORMEL FOODS CORP /DE/.
“James N. Sheehan remains Executive Vice President and Chief Financial Officer until he retires December 31, 2021”
Jacinth C. Smiley was elected as Executive Vice President and Chief Financial Officer at HORMEL FOODS CORP /DE/.
“the effective date for Jacinth C. Smiley's election to be the Company's next Executive Vice President and Chief Financial Officer is January 1, 2022”
Jacinth C. Smiley was elected as Executive Vice President and Chief Financial Officer at HORMEL FOODS CORP /DE/.
“The Board of Directors elected Jacinth C. Smiley to be the Company’s next Executive Vice President and Chief Financial Officer effective November 1, 2021.”
James N. Sheehan retired as Executive Vice President and Chief Financial Officer at HORMEL FOODS CORP /DE/.
“On October 29, 2021, Hormel Foods Corporation (the Company) announced the upcoming retirement of James N. Sheehan, Executive Vice President and Chief Financial Officer, who will retire effective December 31, 2021.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.