EarningsQ3 2026 Earnings Report

Hormel Foods (HRL) Q3 2026 Earnings Report

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Previous Report: Q2 2026

MX:HRL Q3 2026 EPS Results

Actual EPS$6.72

Consensus EPS$6.43

Beat/MissBeat by +$0.29

One Year Ago EPS$6.36

MX:HRL Q3 2026 Revenue Results

Actual Revenue$53.78B

Expected Revenue$55.12B

Beat/MissMissed by -$1.33B

YoY Revenue Growth-2.36%

Earnings Announcement Details

QuarterQ3 2026

Date08/27/2026

TimeBefore Open

Conference CallThursday, August 27, 2026

MX:HRL Upcoming Earnings

Hormel Foods's next earnings date is estimated for December 2, 2026, based on past reporting schedules.

Q3 2026 Earnings Call Audio

MX:HRL Q3 2026 Earnings Call

0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026

Earnings Call Date:Aug 27, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a balanced view: meaningful bottom-line progress (adjusted EPS +6%, margin expansion, stronger cash generation and tightened EPS guidance) and clear strategic actions (portfolio sharpening, leadership appointments) are offset by near-term top-line softness (Q3 organic sales -2%), retail volume declines, international one-time hits and supply-chain/logistics headwinds. Management expects commodity tailwinds to benefit future quarters but cautions that the consumer environment remains choppy.

Company Guidance

Management updated fiscal 2026 guidance, narrowing and raising full‑year adjusted EPS to $1.45–$1.51 (prior $1.43–$1.51) and guiding net sales of $12.1–$12.2 billion with organic net‑sales growth tightened to 1%–2% (from 1%–4%), while saying the revised adjusted operating income and EPS outlook implies year‑over‑year adjusted EPS growth of ~6%–10%; they also noted Q4 EPS at roughly $0.37 midpoint (up to ~$0.40 at the high end). Supporting metrics cited include nine‑month organic net sales +1%, year‑to‑date adjusted operating margin improvement of ~30 basis points and adjusted EPS +6%; Q3 results were adjusted EPS $0.37 (up 6%), adjusted operating margin 9% (up 60 bps), gross profit $472M (gross margin 15.9%), operating cash flow $241M (+54%), capex $68M, dividends returned $161M, and cash on hand $840M; management expects more benefit from lower pork input costs to flow in coming quarters, partly offset by elevated freight and beef costs (and noted a 53rd week in fiscal 2027).

Adjusted EPS Growth

Adjusted earnings per share for Q3 were $0.37, up 6% year-over-year; company raised and narrowed fiscal 2026 adjusted EPS guidance to $1.45–$1.51 (previously $1.43–$1.51) and expects full-year adjusted EPS growth of 6%–10%.

Margin Improvement

Adjusted operating margin for the quarter was 9.0%, an increase of 60 basis points versus prior year; year-to-date adjusted operating margins improved ~30 basis points.

Foodservice Momentum

Foodservice delivered its 12th consecutive quarter of organic net sales growth, with profit growth outpacing sales and driving margin expansion; premium prepared proteins and branded pepperoni were notable contributors.

Strong Cash Generation and Capital Return

Operating cash flow was $241 million in Q3, up 54% year-over-year; cash on hand totaled $840 million (up $169 million year-over-year); returned $161 million to stockholders in the quarter via dividends and maintained the 392nd consecutive quarterly dividend.

Gross Profit and Investments

Gross profit was $472 million with a gross margin of 15.9%; capital expenditures were $68 million focused on infrastructure, data and technology to support long-term growth.

Portfolio and Brand Momentum

Strategic portfolio shaping showed early benefits: Jennie-O ground turkey, Applegate, Hormel chili, Refrigerated Entrees and Planters delivered dollar sales growth; company shifting marketing toward retailer media and e-commerce to strengthen priority brands.

Strategic Leadership and Portfolio Actions

Leadership continuity: John Ghingo named CEO-elect and Ash Bhumbla announced as incoming CFO. Strategic portfolio moves included divestiture of Brazil and exits of whole-bird turkey and certain private-label snack-nut products to sharpen focus on higher-growth opportunities.

MX:HRL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Dec 02, 2026	2026 (Q4)	6.79 / -	5.812	―
Aug 27, 2026	2026 (Q3)	6.43 / 6.72	6.357	5.71% (+0.36)
May 28, 2026	2026 (Q2)	6.43 / 7.26	6.357	14.29% (+0.91)
Feb 26, 2026	2026 (Q1)	5.87 / 6.18	6.357	-2.86% (-0.18)
Dec 04, 2025	2025 (Q4)	5.49 / 5.81	7.628	-23.81% (-1.82)
Aug 28, 2025	2025 (Q3)	7.30 / 6.36	6.72	-5.41% (-0.36)
May 30, 2025	2025 (Q2)	6.21 / 6.36	6.902	-7.89% (-0.54)
Feb 27, 2025	2025 (Q1)	6.83 / 6.36	7.447	-14.63% (-1.09)
Dec 04, 2024	2024 (Q4)	7.68 / 7.63	7.628	0.00% (0.00)
Sep 04, 2024	2024 (Q3)	6.63 / 6.72	7.265	-7.50% (-0.54)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed