Short answer
Hormel Foods (HRL) filed its fiscal 2025 10-K annual report with the SEC on Dec 5, 2025. It reported revenue of $12.1B (+1.6% year over year) and net income of $478M.
- Top risk flagged: Impairment charge $163.7M on Garudafood equity investment indicating risks in acquisitions and foreign joint ventures
FY2025 key financial metrics · XBRL
- Revenue
- $12.1B
- +1.6% YoY
- Net income
- $478M
- −40.6% YoY
- Operating margin
- 5.9%
- −3.0 pp YoY
- Gross margin
- 15.6%
- −1.3 pp YoY
- EPS (diluted)
- $0.87
- −40.8% YoY
- ROE
- 6.1%
- −4.0 pp YoY
- Operating cash flow
- $845M
- −33.3% YoY
Source: XBRL data from the Hormel Foods (HRL) FY2025 10-K on SEC EDGAR. USD.
Hormel Foods FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model focuses on branded packaged foods and related consumer products
- No new products, services, or segments introduced or emphasized in FY 2025 filing
- Interim CEO Jeffrey M. Ettinger appointed, indicating leadership transition during FY 2025
- Equity compensation plans include 18.3 million securities outstanding with weighted-average exercise price $38.10
- Noteworthy adoption of a $750 million credit agreement dated March 25, 2025, supporting financial flexibility
Management Discussion & Analysis
- Revenue $12.1B, up 2% YoY driven by Retail, Foodservice, and International segments
- Operating income $719M (Non-GAAP), down 11%; operating margin 15.6% vs 17.0% YoY; net earnings $478M GAAP, down 41%, adjusted net earnings $755M, down 13%
- Best segment: Retail profit $425M GAAP (declined 24%); Worst segment: International loss $(80M) GAAP vs $92M profit prior year, impaired by $164M equity investment charge
- Operating cash flow $845M; capex $311M including capacity expansions and technology investments; dividends $633M, 1% increase in annualized dividend to $1.17/share; no share repurchases in FY25
- Fiscal 2026 guidance: organic net sales growth 1%-4%; adjusted diluted EPS $1.43-$1.51; risks include inflationary pressures, macroeconomic weakness, and commodity price volatility
Risk Factors
- Impairment charge $163.7M on Garudafood equity investment indicating risks in acquisitions and foreign joint ventures
- Exposure to U.S. tariffs and retaliatory trade barriers increasing key input costs and supply chain uncertainty
- Fire at Little Rock peanut butter facility in Q4 fiscal 2025 disrupted production and highlighted operational vulnerability
- Competition from private label, alternative meat, and plant-based protein producers impacting sales, margins, and market share
- Customer concentration risk with Walmart representing 16% of fiscal 2025 sales, loss could materially impact revenue
Generated from the filing text; verify against the original. How to read a 10-K
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