HORMEL FOODS CORP /DE/

Listed Company

HRLCIK 0000048465NYSELarge AcceleratedMeat Packing PlantsDelawareFY ends Oct 25

Period

FY 2025

Revenue

—

Net Income

$478.20M

Total Assets

$13.39B

Equity

$7.90B

Shares Out

—

Op. Cash Flow

$845.25M

Business

Hormel Foods Corporation is a global branded food company that develops, processes, and distributes meat, nut and other food products. It offers a diverse portfolio of branded, value‑added products, including well‑known names such as Planters, SPAM, Jennie‑O, Skippy, Applegate, Wholly, Hormel Black Label, Fontanini, Bacon1 and Hormel pepperoni, among others. The Company operates three reportable segments—Retail, Foodservice and International—which include joint ventures, equity method investments and royalty arrangements. Its products are sold through U.S. retail and foodservice channels and in multiple international markets via direct sales, brokers, distributors, co‑manufacturers and company‑operated networks.

Summary from filing dated 2025-12-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net Sales	12,106	11,921	12,110	12,459	11,386
Cost of Products Sold	10,214	9,899	10,110	10,294	9,458
Gross Profit	1,892	2,022	2,000	2,165	1,928
Selling, General, and Administrative	997	1,005	942	879	853
Equity in Earnings of Affiliates	−106	51	43	27	48
Goodwill and Intangible Impairment	71	0	28	0	0
Operating Income	719	1,068	1,072	1,313	1,123
Interest Income	24	40	24	—	—
Interest Expense	78	81	73	63	—
Other Income (Expense), Net	−1	8	−9	—	—
Earnings Before Income Taxes	663	1,035	1,013	1,278	1,126
Provision for Income Taxes	186	231	221	278	217
Net Earnings	478	805	793	1,000	909
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest	−433,000	−407,000	−653,000	239,000	301,000
Net Earnings Attributable to Hormel Foods Corporation	478	805	794	1,000	909
Basic (in dollars per share)	0.87	1.47	1.45	1.84	1.68
Diluted (in dollars per share)	0.87	1.47	1.45	1.82	1.66
Basic (in shares)	550	548	546	545	541
Diluted (in shares)	550	549	549	550	548

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and Cash Equivalents	671	742	737	982	614
Short-term Marketable Securities	33	25	17	16	21
Accounts Receivable (Net of Allowance of $3,743 and $3,712, respectively)	785	818	817	868	896
Inventories	1,747	1,576	1,680	1,716	1,369
Taxes Receivable	97	50	7	7	8
Prepaid Expenses and Other Current Assets	73	35	39	48	40
Total Current Assets	3,406	3,246	3,297	3,637	2,948
Goodwill	4,924	4,923	4,928	4,926	4,929
Intangible Assets	1,647	1,733	1,757	1,803	1,822
Pension Assets	212	206	205	246	289
Investments in Affiliates	534	719	725	271	299
Other Assets	432	412	370	283	300
Property, Plant, and Equipment, Net	2,239	2,195	2,166	2,141	2,109
Total Assets	13,393	13,435	13,449	13,307	12,696
Accounts Payable	732	736	771	817	793
Accrued Expenses	56	66	52	59	51
Accrued Marketing Expenses	114	108	87	113	115
Employee-related Expenses	273	283	263	279	269
Interest and Dividends Payable	181	176	172	164	155
Taxes Payable	19	22	15	33	24
Current Maturities of Long-term Debt	7	8	951	9	9
Total Current Liabilities	1,381	1,399	2,312	1,473	1,416
Long-term Debt Less Current Maturities	2,851	2,851	2,359	3,291	3,315
Pension and Postretirement Benefits	359	380	349	386	546
Deferred Income Taxes	661	589	498	475	278
Other Long-term Liabilities	225	211	192	142	163
Preferred Stock, Par Value $0.01 a Share Authorized 160,000,000 Shares; Issued None	0	0	0	0	0
Additional Paid-in Capital	620	571	506	469	360
Accumulated Other Comprehensive Loss	−244	−263	−272	−256	−277
Retained Earnings	7,517	7,678	7,493	7,313	6,882
Hormel Foods Corporation Shareholders Investment	7,901	7,993	7,735	7,535	6,973
Noncontrolling Interest	15	11	4	5	5
Total Shareholders Investment	7,916	8,004	7,739	7,540	6,978
Total Liabilities and Shareholders Investment	13,393	13,435	13,449	13,307	12,696

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Depreciation	241	234	227	213	184
Amortization	23	24	26	23	26
Distributions Received from Equity Method Investees	50	46	38	43	45
Provision for Deferred Income Taxes	53	88	32	177	29
Non-cash Investment Activities	−14	−24	−2	19	−24
Stock-based Compensation Expense	26	23	24	25	25
Operating Lease Cost	42	38	29	21	17
Loss (Gain) on Sale of Business	11	−4	0	—	0
Other Non-cash, Net	3	21	20	13	6
Decrease (Increase) in Accounts Receivable	33	2	49	28	−192
Decrease (Increase) in Inventories	−172	95	36	−352	−145
Decrease (Increase) in Prepaid Expenses and Other Assets	−19	13	−69	−15	35
Increase (Decrease) in Pension and Postretirement Benefits	32	24	18	−29	−15
Increase (Decrease) in Accounts Payable and Accrued Expenses	−69	−27	−141	−15	115
Increase (Decrease) in Net Income Taxes Payable	−48	−39	−19	11	37
Net Cash Provided by (Used in) Operating Activities	845	1,267	1,048	1,135	1,002
Net Sale (Purchase) of Securities	−7	−6	−42,000	—	−4
Proceeds from Sale of Business	13	25	0	0	0
Purchases of Property, Plant, and Equipment	−311	−256	−270	−279	−232
Proceeds from Sales of Property, Plant, and Equipment	132,000	474,000	5	1	2
Proceeds from (Purchases of) Affiliates and Other Investments	−5	−8	−428	2	−343,000
Proceeds from Company-owned Life Insurance	11	8	3	15	5
Net Cash Provided by (Used in) Investing Activities	−299	−237	−690	−258	−3,626
Proceeds from Long-term Debt	0	498	2	0	2,276
Payment of Debt Issuance Costs	0	−1	0	0	—
Repayments of Long-term Debt and Finance Leases	−8	−959	−9	−9	−259
Dividends Paid on Common Stock	−633	−615	−593	−558	−523
Share Repurchase	0	0	−12	0	−20
Proceeds from Stock-based Compensation Plans, Net of Withholding Taxes	22	41	12	80	46
Proceeds from Noncontrolling Interest	5	7	0	0	0
Net Cash Provided by (Used in) Financing Activities	−614	−1,030	−600	−487	1,521
Effect of Exchange Rate Changes on Cash	−4	6	−4	−22	3
Increase (Decrease) in Cash and Cash Equivalents	−71	5	−246	369	−1,101
Purchases of Property, Plant, and Equipment included in Accounts Payable	30	22	21	19	—

Filings

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