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Hormel Foods

HRL Q2 2026 Earnings

Reported May 27, 2026 at 5:41 PM ET · SEC Source

Q2 26 EPS

$0.40

Q2 26 Revenue

$2.97B

BEAT +0.33%

Est. $2.96B

vs S&P Since Q2 26

+9.6%

BEATING MARKET

HRL +9.6% vs S&P 0.0%

Market Reaction

Did HRL Beat Earnings? Q2 2026 Results

Hormel Foods posted a convincing second quarter for fiscal 2026, with adjusted diluted EPS of $0.40 clearing the $0.35 consensus estimate by 12.87% and revenue of $2.97 billion edging ahead of the $2.96 billion forecast while climbing 2.5% year over … Read more Hormel Foods posted a convincing second quarter for fiscal 2026, with adjusted diluted EPS of $0.40 clearing the $0.35 consensus estimate by 12.87% and revenue of $2.97 billion edging ahead of the $2.96 billion forecast while climbing 2.5% year over year. The standout driver was broad-based segment momentum, particularly in Foodservice, which logged 6% net sales growth and its eleventh consecutive quarter of organic gains, while adjusted operating margin expanded to 9.9% from 9.1% a year ago, underscoring the company's push toward higher-margin, value-added proteins. GAAP earnings fell to $157.47 million from $180.02 million, weighed by a $61.00 million loss tied to the completed divestiture of the whole-bird turkey business, a deliberate move analysts have noted should reduce exposure to commodity volatility over time. Cash flow from operations surged to $178.94 million from $56.44 million a year prior. Looking ahead, Hormel reaffirmed adjusted EPS guidance of $1.43 to $1.51 and net sales of $12.20 billion to $12.50 billion for fiscal 2026, signaling confidence in continued underlying momentum.

Key Takeaways

  • • Sixth consecutive quarter of organic top-line growth at 3%
  • • All three segments delivered net sales and segment profit growth
  • • Foodservice achieved 11th consecutive quarter of organic net sales growth at 7%
  • • Improved performance across turkey manufacturing network
  • • Expanded adjusted operating margin to 9.9% from 9.1% year-over-year
  • • Strong performance in customized solutions business, branded pepperoni, and premium prepared proteins in Foodservice
  • • Strong SPAM luncheon meat exports and in-country China business growth for International
  • • Jennie-O ground turkey drove organic net sales growth in Retail

HRL Forward Guidance & Outlook

Hormel reaffirmed full-year fiscal 2026 net sales guidance of $12.2 billion to $12.5 billion and organic net sales growth of 1% to 4%. The company updated GAAP diluted EPS guidance to $1.28–$1.37 (previously $1.37–$1.46) to reflect the whole-bird turkey divestiture loss. Adjusted diluted EPS guidance was reaffirmed at $1.43–$1.51, reflecting growth of 4% to 10%. Adjusted operating income is expected to be $1.06 billion to $1.12 billion. The whole-bird turkey divestiture is expected to reduce fiscal 2026 reported net sales by approximately $50 million with minimal impact to adjusted diluted EPS.

24/7 Wall St

HRL YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

HRL Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q2 26

“We delivered strong second quarter results marked by profitable growth and improved performance. We achieved our sixth consecutive quarter of organic top-line growth, expanded gross margins, and attained double-digit growth in adjusted earnings. This was an excellent quarter and gives us even greater confidence in our ability to deliver our full-year outlook.”

— Jeff Ettinger, Q2 2026 Earnings Press Release

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