$HRL

HORMEL FOODS CORP /DE/

CIK:0000048465|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 26, 2026	Jul. 27, 2025	Jul. 26, 2026	Jul. 27, 2025
Income Statement [Abstract]
Net Sales	$ 2,961,333	$ 3,032,876	$ 8,961,250	$ 8,920,499
Cost of Products Sold	2,489,818	2,545,567	7,501,653	7,473,524
Gross Profit	471,515	487,309	1,459,597	1,446,975
Selling, General, and Administrative	323,501	258,713	883,822	773,158
Equity in Earnings of Affiliates	(37,110)	11,153	(4,061)	42,614
Operating Income	110,904	239,748	571,713	716,430
Interest Income	6,661	4,877	19,667	18,596
Interest Expense	19,635	19,461	59,185	58,438
Other Income (Expense), Net	5,227	11,350	11,336	8,488
Earnings Before Income Taxes	103,157	236,514	543,531	685,076
Provision for Income Taxes	43,638	52,818	144,865	151,107
Net Earnings	59,519	183,696	398,666	533,968
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest	(55)	(46)	(182)	(366)
Net Earnings Attributable to Hormel Foods Corporation	$ 59,573	$ 183,742	$ 398,848	$ 534,334
Net Earnings Per Share:
Basic (in dollars per share)	$ 0.11	$ 0.33	$ 0.72	$ 0.97
Diluted (in dollars per share)	$ 0.11	$ 0.33	$ 0.72	$ 0.97
Weighted-average Shares Outstanding:
Basic (in shares)	550,675	550,408	550,572	550,048
Diluted (in shares)	551,074	550,723	550,898	550,396

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jul. 26, 2026	Jul. 27, 2025
Operating Activities
Net Earnings	$ 398,666	$ 533,968
Adjustments to Reconcile to Net Cash Provided by (Used in) Operating Activities:
Depreciation and Amortization	202,348	194,527
Equity in Earnings of Affiliates	4,061	(42,614)
Distributions Received from Equity Method Investees	31,500	38,847
Provision for Deferred Income Taxes	(8,219)	(1,405)
Non-cash Investment Activities	(7,618)	(9,181)
Stock-based Compensation Expense	21,293	21,387
Operating Lease Cost	32,558	30,473
Loss (Gain) on Divestitures	94,085	10,800
Other Non-cash, Net	(33)	552
Changes in Operating Assets and Liabilities, Net of Divestitures:
Decrease (Increase) in Accounts Receivable	86,133	51,790
Decrease (Increase) in Inventories	(80,543)	(247,084)
Decrease (Increase) in Prepaid Expenses and Other Assets	(1,137)	3,443
Increase (Decrease) in Pension and Postretirement Benefits	7,232	30,356
Increase (Decrease) in Accounts Payable and Accrued Expenses	(36,802)	(100,437)
Increase (Decrease) in Net Income Taxes Payable	25,227	6,921
Net Cash Provided by (Used in) Operating Activities	768,752	522,345
Investing Activities
Net Sale (Purchase) of Securities	3,372	(6,170)
Proceeds from Sale of Business	97,056	13,139
Purchases of Property, Plant, and Equipment	(219,331)	(219,444)
Proceeds from Sales of Property, Plant, and Equipment	3,013	91
Proceeds from (Purchases of) Affiliates and Other Investments	(5,316)	(3,283)
Proceeds from Company-owned Life Insurance	8,939	10,676
Net Cash Provided by (Used in) Investing Activities	(112,267)	(204,991)
Financing Activities
Repayments of Long-term Debt and Finance Leases	(5,425)	(6,250)
Dividends Paid on Common Stock	(481,401)	(473,692)
Proceeds from Stock-based Compensation Plans, Net of Withholding Taxes	(1,744)	24,057
Proceeds from Noncontrolling Interest	135	0
Net Cash Provided by (Used in) Financing Activities	(488,435)	(455,884)
Effect of Exchange Rate Changes on Cash	5,368	(4,161)
Increase (Decrease) in Cash, Cash Equivalents, and Cash Held for Sale	173,417	(142,692)
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Cash, Cash Equivalents, and Cash Held for Sale at Beginning of Year	670,679	741,881
Cash, Cash Equivalents, and Cash Held for Sale at End of Period	844,095	599,189
Less: Cash Held for Sale	4,457	0
Cash and cash equivalent at end of period	839,639	599,189
Supplemental Non-cash Investing and Financing Activities:
Purchases of Property, Plant, and Equipment Included in Accounts Payable	$ 24,453	$ 31,147

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Jul. 26, 2026	Oct. 26, 2025
Assets
Cash and Cash Equivalents	$ 839,639	$ 670,679
Short-term Marketable Securities	28,807	32,909
Accounts and Other Receivables, Net	733,460	813,989
Inventories	1,801,567	1,747,279
Taxes Receivable	58,688	96,791
Prepaid Expenses and Other Current Assets	53,420	44,010
Assets Held for Sale	10,659	0
Total Current Assets	3,526,238	3,405,656
Goodwill	4,867,763	4,924,087
Intangible Assets	1,572,850	1,647,297
Pension Assets	204,135	211,826
Investments in Affiliates	527,864	533,984
Other Assets	430,139	431,500
Property, Plant, and Equipment, Net	2,163,025	2,238,770
Total Assets	13,292,014	13,393,119
Liabilities and Shareholders’ Investment
Accounts Payable	677,999	731,578
Accrued Expenses	93,155	55,772
Accrued Marketing Expenses	133,313	113,947
Employee-related Expenses	250,072	273,402
Interest and Dividends Payable	175,646	180,700
Taxes Payable	10,690	18,752
Current Maturities of Long-term Debt	505,634	6,646
Liabilities Held for Sale	27,483	0
Total Current Liabilities	1,873,991	1,380,796
Long-term Debt Less Current Maturities	2,349,489	2,850,778
Pension and Postretirement Benefits	351,174	358,984
Deferred Income Taxes	653,360	661,349
Other Long-term Liabilities	204,345	225,397
Shareholders’ Investment
Preferred Stock	0	0
Additional Paid-in Capital	640,472	620,069
Accumulated Other Comprehensive Loss	(236,907)	(243,646)
Retained Earnings	7,431,817	7,516,690
Hormel Foods Corporation Shareholders’ Investment	7,843,444	7,901,171
Noncontrolling Interest	16,210	14,644
Total Shareholders’ Investment	7,859,654	7,915,815
Total Liabilities and Shareholders’ Investment	13,292,014	13,393,119
Common Stock, Nonvoting
Shareholders’ Investment
Common Stock	0	0
Common Stock
Shareholders’ Investment
Common Stock	$ 8,063	$ 8,059