Hormel Foods (HRL) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.35

$0.35$0.37

vs $0.35+1.1%

8 analysts

Next Qtr

$0.40

$0.39$0.42

vs $0.32+24.2%

7 analysts

Current Yr

$1.49

$1.45$1.51

vs $1.37+8.6%

9 analysts

Next Yr

$1.56

$1.41$1.61

vs $1.49+4.9%

10 analysts

Revenue Estimates

Current Qtr

$3.06B

$3.04B$3.09B

vs $3.03B+0.8%

6 analysts

Next Qtr

$3.23B

$3.17B$3.27B

vs $3.19B+1.5%

6 analysts

Current Yr

$12.30B

$12.21B$12.34B

vs $12.11B+1.6%

8 analysts

Next Yr

$12.48B

$12.29B$12.58B

vs $12.30B+1.5%

8 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for HRL on EDGAR.

HRL filing events and research context
Filed	Item	Context
Dec 5, 2025	business	Hormel Foods Corporation is a global branded food company generating over $12 billion in annual revenue through three primary segments: Retail, Foodservice, and International. Its diverse portfolio includes iconic brands such as SPAM, Planters, Jennie-O, Skippy, Applegate, and Wholly. The Retail segment serves U.S. grocery and e-commerce channels, while the Foodservice segment supplies restaurants, hospitality, and healthcare providers. The International segment manages operations in markets including China, Brazil, and Australia, supported by joint ventures and royalty arrangements. The company’s business model relies on processing meat—specifically pork, turkey, beef, and chicken—and nuts. To manage volatility in raw material costs, Hormel utilizes long-term supply agreements, forward buying, and financial hedging instruments. A significant operational risk is the company’s reliance on major customers; Walmart alone accounts for 15.6% of consolidated gross sales, and the top five customers represent 38%. Competition is intense across all segments, with rivals ranging from other meat producers to plant-based protein manufacturers. Success depends on brand equity, product innovation, and maintaining high-quality standards. With approximately 20,000 employees, Hormel maintains a stable workforce, though it remains subject to collective bargaining agreements and complex regulatory oversight regarding food safety, animal welfare, and environmental compliance.
Dec 5, 2025	mda	Hormel Foods reported fiscal 2025 net sales of $12.1 billion, a 2% increase driven by the Jennie-O turkey portfolio, SPAM, Planters nuts, and Applegate meats. Despite sales growth, net earnings declined 41% due to persistent input cost inflation in pork belly, beef, and nuts, alongside significant non-cash impairment charges. These impairments included $71 million for the Planters and Chi-Chi's trade names and a $164 million charge related to a minority investment in Indonesia. The company is executing a multi-year Transform and Modernize initiative and a corporate restructuring plan to improve efficiencies and reduce administrative expenses. For fiscal 2026, the company projects organic net sales growth of 1% to 4% and adjusted diluted EPS between $1.43 and $1.51, with expected profit growth across the Retail, Foodservice, and International segments. Key risks to this outlook include deteriorating macroeconomic conditions, slowing consumer demand, and continued volatility in beef and nut commodity markets. Capital expenditures for 2026 are estimated between $260 million and $290 million, focusing on data, technology, and value-added capacity expansions. The company maintains a strong liquidity position with $2.9 billion in fixed-rate unsecured senior notes and a $750 million revolving credit facility.
Dec 5, 2025	risk_factors	HRL is exposed to significant customer concentration, with Walmart accounting for 16% of gross sales and the top five customers representing 38%. Financial stability is pressured by commodity price volatility in pork, poultry, beef, and feed grains, alongside risks from livestock diseases such as Highly Pathogenic Avian Influenza (HPAI) in turkeys and African Swine Fever (ASF) in pork. The company faces substantial asset impairment risks, evidenced by a $163.7 million charge for Garudafood and impairments to the Planters and Chi-Chi's trade names. Operational vulnerabilities include heavy reliance on the Austin, Minnesota facility and recent disruptions such as a fire at the Little Rock peanut butter plant. HRL is currently executing a "Transform and Modernize" initiative and a corporate restructuring plan to reduce administrative expenses. Market risks include a consumer shift toward private-label value offerings and the impact of weight-management medications on eating patterns. Regulatory challenges involve the potential loss of government waivers for pork production line speeds and new extended producer responsibility laws. Additionally, food safety remains a critical risk, highlighted by recent voluntary recalls of chicken and Planters products. Cybersecurity threats and reliance on legacy IT systems further complicate operational stability.

Filed

Item

Context

Dec 5, 2025

business

Hormel Foods Corporation is a global branded food company generating over $12 billion in annual revenue through three primary segments: Retail, Foodservice, and International. Its diverse portfolio includes iconic brands such as SPAM, Planters, Jennie-O, Skippy, Applegate, and Wholly. The Retail segment serves U.S. grocery and e-commerce channels, while the Foodservice segment supplies restaurants, hospitality, and healthcare providers. The International segment manages operations in markets including China, Brazil, and Australia, supported by joint ventures and royalty arrangements. The company’s business model relies on processing meat—specifically pork, turkey, beef, and chicken—and nuts. To manage volatility in raw material costs, Hormel utilizes long-term supply agreements, forward buying, and financial hedging instruments. A significant operational risk is the company’s reliance on major customers; Walmart alone accounts for 15.6% of consolidated gross sales, and the top five customers represent 38%. Competition is intense across all segments, with rivals ranging from other meat producers to plant-based protein manufacturers. Success depends on brand equity, product innovation, and maintaining high-quality standards. With approximately 20,000 employees, Hormel maintains a stable workforce, though it remains subject to collective bargaining agreements and complex regulatory oversight regarding food safety, animal welfare, and environmental compliance.

Dec 5, 2025

mda

Hormel Foods reported fiscal 2025 net sales of $12.1 billion, a 2% increase driven by the Jennie-O turkey portfolio, SPAM, Planters nuts, and Applegate meats. Despite sales growth, net earnings declined 41% due to persistent input cost inflation in pork belly, beef, and nuts, alongside significant non-cash impairment charges. These impairments included $71 million for the Planters and Chi-Chi's trade names and a $164 million charge related to a minority investment in Indonesia. The company is executing a multi-year Transform and Modernize initiative and a corporate restructuring plan to improve efficiencies and reduce administrative expenses. For fiscal 2026, the company projects organic net sales growth of 1% to 4% and adjusted diluted EPS between $1.43 and $1.51, with expected profit growth across the Retail, Foodservice, and International segments. Key risks to this outlook include deteriorating macroeconomic conditions, slowing consumer demand, and continued volatility in beef and nut commodity markets. Capital expenditures for 2026 are estimated between $260 million and $290 million, focusing on data, technology, and value-added capacity expansions. The company maintains a strong liquidity position with $2.9 billion in fixed-rate unsecured senior notes and a $750 million revolving credit facility.

Dec 5, 2025

risk_factors

HRL is exposed to significant customer concentration, with Walmart accounting for 16% of gross sales and the top five customers representing 38%. Financial stability is pressured by commodity price volatility in pork, poultry, beef, and feed grains, alongside risks from livestock diseases such as Highly Pathogenic Avian Influenza (HPAI) in turkeys and African Swine Fever (ASF) in pork. The company faces substantial asset impairment risks, evidenced by a $163.7 million charge for Garudafood and impairments to the Planters and Chi-Chi's trade names. Operational vulnerabilities include heavy reliance on the Austin, Minnesota facility and recent disruptions such as a fire at the Little Rock peanut butter plant. HRL is currently executing a "Transform and Modernize" initiative and a corporate restructuring plan to reduce administrative expenses. Market risks include a consumer shift toward private-label value offerings and the impact of weight-management medications on eating patterns. Regulatory challenges involve the potential loss of government waivers for pork production line speeds and new extended producer responsibility laws. Additionally, food safety remains a critical risk, highlighted by recent voluntary recalls of chicken and Planters products. Cybersecurity threats and reliance on legacy IT systems further complicate operational stability.

Forward Estimates

HRL filing events and research context

Keep researching HRL

Related tickers

Related explainers

Forward Estimates