Quarterly ResultMay 28, 2026, 02:26 PM
Hormel Foods Q2 Net Sales $2.97B; EPS $0.29; Divests Turkey Business
AI Summary
Hormel Foods reported second-quarter net sales of $2.97 billion, an increase from the prior year, but net earnings attributable to the company decreased to $157.5 million, or $0.29 per diluted share. For the six months, net sales rose to $6.00 billion, while net earnings declined to $339.3 million, or $0.62 per diluted share. The company completed the sale of its whole-bird turkey business and a majority stake in Justin's, LLC, impacting results and strategic focus.
Key Highlights
- Sold whole-bird turkey business for $61.2 million, resulting in a $61.0 million pre-tax loss.
- Divested 51% equity in Justin's, LLC for $77.3 million, generating a $23.5 million pre-tax gain.
- Q2 Net Sales increased to $2.97 billion from $2.90 billion year-over-year.
- Q2 Net Earnings attributable to Hormel Foods decreased to $157.5 million from $180.0 million.
- Q2 Diluted EPS was $0.29, down from $0.33 in the prior year.
- Six-month Net Cash Provided by Operating Activities rose to $528.2 million from $365.6 million.
- Declared quarterly dividend of $0.2925 per share.
Price Impact
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