Hormel Foods (HRL) Q1 2026 10-Q Quarterly Report
Hormel Foods (HRL) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Feb 26, 2026 for the fiscal period ending Jan 25, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Hormel Foods Q1 2026 10-Q Analysis
Management Discussion & Analysis
- • Net sales $3.03B, up 1.3% YoY ($38.5M increase); organic net sales +1.6% ex-Justin's divestiture
- • Gross margin 15.5% vs 15.9% YoY; operating margin 8.1% vs 7.6% YoY; adjusted EPS $0.34 vs $0.35 YoY
- • Best segment: Foodservice profit +12.8% to $156.5M on pricing actions; worst: Retail profit -19.3% to $96.2M on input/logistics cost pressures
- • Operating cash flow $349M, up 13% YoY; cash $868M; capex $69M; $79M proceeds from Justin's sale; no share repurchases
- • Outlook: expects FY26 net sales growth and ad spend increase; headwinds include elevated logistics costs, tariff uncertainty, and slowing consumer demand
Risk Factors
- • No material changes from 10-K for fiscal year ended October 26, 2025; all prior risk factors carried forward unchanged
- • Key carried-forward risk: commodity input cost volatility (pork, turkey, feed) directly pressures Hormel's protein-heavy cost structure
- • Supply chain/operational risk: avian influenza outbreaks historically disrupt turkey segment, a recurring material exposure for Hormel
- • Competitive/market risk: private-label trade-down pressure in packaged foods amid consumer value-seeking behavior threatens branded pricing power
Hormel Foods Q1 2026 Quarterly FinancialsXBRL
Revenue
$3.0B
▲ +1.3% YoY
Net Income
$182M
▲ +6.6% YoY
Gross Margin
15.5%
▼ -39bp YoY
Operating Margin
8.0%
▲ +41bp YoY
Net Margin
6.0%
▲ +30bp YoY
ROE
2.3%
Total Assets
$13.3B
▼ -0.6% QoQ
EPS (Diluted)
$0.33
▲ +6.5% YoY
Operating Cash Flow
$349M
▲ +12.9% YoY
Source: XBRL data from Hormel Foods Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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