Quick answer: latest quarter results, by ticker or company name

Reported Q: Q2 2024 Rev YoY: -2.6% EPS YoY: +16.7% Move: -2.09%

Hormel Foods Corporation

HRL

$24.41 -2.09%

Exchange NYSE Sector Consumer Defensive Industry Packaged Foods

Q2 2024

Published: May 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for HRL

Reported

Report Date

May 30, 2024

Quarter Q2 2024

Revenue

2.89B

YoY: -2.6%

EPS

0.34

YoY: +16.7%

Market Move

-2.09%

Previous quarter: Q1 2024

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Earnings Highlights

Revenue of $2.89B down 2.6% year-over-year
EPS of $0.34 increased by 16.7% from previous year
Gross margin of 17.4%
Net income of 189.28M
""We delivered a strong first half of the year, with consecutive quarters of better-than-expected earnings, a significant improvement in operating cash flows, foodservice strength, recovery in our International business, and stable volumes across our business."" - Jim Snee

HRL

Company HRL

Period Q2 2024

Currency USD

Report Type Quarterly Earnings

Generated Feb 10, 2026

Executive Summary

- Hormel Foods reported Q2 2024 revenue of $2.887 billion, down 2.6% year over year and 3.7% quarter over quarter, with gross margin of 17.4% and operating margin of 8.74%. Net income was $189.3 million and GAAP EPS of $0.35, with diluted EPS of $0.34. The results reflect strength in Foodservice and International segments counterbalancing Retail pressure from Turkey dynamics, plus ongoing benefits from the company’s transform and modernize initiative.

Key Performance Indicators

Revenue

Decreasing

2.89B

QoQ: -3.66% | YoY: -2.56%

Gross Profit

Increasing

503.81M

17.45% margin

QoQ: -0.97% | YoY: 1.16%

Operating Income

Increasing

252.32M

QoQ: -11.29% | YoY: 16.41%

Net Income

Increasing

189.28M

QoQ: -13.52% | YoY: 16.35%

EPS

Increasing

0.35

QoQ: -12.50% | YoY: 16.67%

Revenue Trend

Margin Analysis

Financial Highlights

- Revenue: $2.887B in Q2 2024; YoY -2.56%, QoQ -3.66%
- Gross Profit: $503.8M; gross margin 17.45%; YoY +1.16%, QoQ -0.97%
- Operating Income: $252.3M; margin 8.74%; YoY +16.41%, QoQ -11.29%
- Net Income: $189.3M; net margin 6.56%; YoY +16.35%, QoQ -13.52%
- EPS (GAAP): $0.35; Diluted: $0.34; YoY EPS +16.67%, QoQ -12.50%
- Cash Flow: Operating cash flow $236.1M in Q2; H1 OCF $640.0M (+55% YoY); Free cash flow $176.2M for the quarter
- Balance Sheet: Total assets $14.14B; total debt $3.81B; net debt $2.32B; cash $1.49B; equity $7.89B
- Guidance: Net sales +1% to +3%; Diluted EPS $1.45-$1.55; Adjusted Diluted EPS $1.55-$1.65; Suffolk plant issue expected to impact EPS by ~ $0.03 in 2024; strongest margin savings anticipated in Q4

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	2.89B	-2.56%	-3.66%
Gross Profit	503.81M	1.16%	-0.97%
Operating Income	252.32M	16.41%	-11.29%
Net Income	189.28M	16.35%	-13.52%
EPS	0.35	16.67%	-12.50%

Key Financial Ratios

Gross Profit Margin

Weak

17.40%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Fair

8.74%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Fair

6.56%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

1.34%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

2.40%

Return on equity suggests inefficient capital allocation

Current Ratio

Healthy

1.73

Current ratio shows adequate liquidity to meet short-term obligations

Debt to Equity

Moderate

0.48

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Growth

25.63x

Elevated P/E suggests growth expectations or premium valuation

Price to Book

Fair Value

2.46x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	2,988.81	0.31	-0.3%	View
Q4 2024	3,138.09	0.40	-1.9%	View
Q3 2024	2,898.44	0.32	-9.4%	View
Q2 2024	2,887.35	0.34	-2.6%	View
Q1 2024	2,996.91	0.40	+0.7%	View

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Hormel Foods Corporation (HRL) Q2 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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