Hormel Foods Announces Preliminary First Quarter 2026 Results and Reaffirms Full-Year Adjusted Guidance
Rhea-AI Summary
Hormel Foods (NYSE: HRL) reported preliminary Q1 fiscal 2026 results and reaffirmed full-year adjusted guidance. The company expects Q1 net sales of ~$3.0 billion, 2% organic net sales growth, preliminary diluted EPS of $0.33 and adjusted diluted EPS of $0.34.
The company also entered a definitive agreement to sell its whole-bird turkey business to Life-Science Innovations, expected to close by the end of the company’s Q2 fiscal 2026, and will release full Q1 results on Feb. 26, 2026.
Positive
- Preliminary Q1 net sales ~$3.0 billion
- 2% organic net sales growth, fifth consecutive quarter
- Preliminary adjusted diluted EPS of $0.34
- Entered definitive agreement to sell whole-bird turkey business, closing by end of Q2 FY2026
Negative
- Financial terms of the turkey sale not disclosed
- Q1 figures are preliminary estimates and subject to change
News Market Reaction – HRL
In the Feb 18 session, HRL gained 4.44%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 02 | Earnings call scheduling | Neutral | +0.7% | Announced timing of Q1 2026 earnings release and CAGNY presentation. |
| Aug 28 | Q3 2025 results | Negative | -13.1% | Reported 6% organic sales growth but highlighted profitability pressures and EPS constraints. |
| May 29 | Q2 2025 results | Positive | +1.1% | Delivered sales growth, stable EPS and narrowed FY2025 outlook with operational improvements. |
| Feb 27 | Q1 2025 results | Positive | -1.2% | Showed organic growth and reaffirmed guidance, but shares declined modestly afterward. |
| Jan 14 | CEO retirement | Negative | -0.8% | Announced CEO retirement timeline and succession process with outlook unchanged. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-related news for HRL has often led to modest downside, with an average move of about -2.67% and several negative reactions even when results or outlook appeared constructive.
Recent earnings-tagged events for HRL show mixed market responses. Q1–Q3 fiscal 2025 results featured steady net sales around $2.90–3.03 billion, recurring diluted EPS near $0.33, and reaffirmed or narrowed guidance ranges, yet shares sometimes dropped, including a -13.09% move on Q3 2025 results. Leadership transition news in January 2025 also saw a small decline. Against this backdrop, today’s preliminary Q1 2026 update and guidance reaffirmation continue the theme of stable sales and earnings targets amid cautious trading.
Key Terms
organic net sales financial
diluted EPS financial
operating profit financial
definitive agreement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Expects Q1 Net Sales of
Expects Q1 Diluted EPS of
Separately Announces Definitive Agreement to Sell Its Whole-Bird Turkey Business
Presenting at the 2026 Consumer Analyst Group of
The Company separately announced entry into a definitive agreement to sell its whole-bird turkey business, reflecting its ongoing portfolio shaping efforts. The Company will release its first quarter fiscal 2026 financial results on Thursday, Feb. 26, 2026.
Preliminary First Quarter Fiscal 2026 Results
Hormel Foods expects first quarter fiscal 2026 net sales of approximately
Hormel Foods expects preliminary first quarter fiscal 2026 diluted earnings per share of
"We are pleased with our preliminary first quarter results," said Jeff Ettinger, interim chief executive officer. "They reflect a solid start to the year, are aligned with our expectations and give us confidence that we are focused on the right initiatives to return Hormel Foods to profitable growth."
At the 2026 CAGNY conference, Ettinger will reaffirm the Company's fiscal 2026 organic net sales1 and adjusted diluted earnings per share1 guidance and review key initiatives for success in fiscal 2026. John Ghingo, president, will discuss the Company's unique position in the food industry, and leadership's expectations for achieving its previously announced long-term growth algorithm of 2
Portfolio Shaping
The Company separately announced it has entered into a definitive agreement to sell its whole-bird turkey business to Life-Science Innovations (LSI), with the transaction expected to close by the end of the Company's second quarter of fiscal 2026.
Financial details of the transaction have not been disclosed. The Company will provide additional information on the transaction as part of its first quarter earnings announcement. It currently estimates minimal impact on net sales and adjusted diluted earnings per share1 guidance for fiscal 2026.
Upcoming Presentations
The live webcast of the Company's CAGNY presentation, together with materials for the event, will be accessible at 4 p.m. ET on Wednesday, Feb. 18, 2026, on the Company's investor website, investor.hormelfoods.com.
Hormel Foods will provide a comprehensive review of its first quarter results along with its fiscal 2026 guidance during its regularly scheduled earnings conference call on Feb. 26, 2026, at 7 a.m. CT.
Estimates for the first quarter of fiscal 2026 presented in this release are preliminary and represent the most current information available to management.
About Hormel Foods — Inspired People. Inspired Food.™
Hormel Foods Corporation, based in
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which are based on the Company's current assumptions and expectations. These statements are typically accompanied by the words "aim," "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "project," "seek," "target," "will," "would," or similar words or expressions. The principal forward-looking statements in this news release include statements regarding the Company's fiscal 2026 guidance and future financial and operational performance.
All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although the Company believes there is a reasonable basis for the forward-looking statements, its actual results could be materially different. The most important factors that could cause the Company's actual results to differ from its forward-looking statements include, but are not limited to, risks related to the deterioration of economic conditions; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges; the risk of disruption of operations; the risk that the Company may fail to realize anticipated cost savings or operating profit improvements associated with strategic initiatives, including the Transform and Modernize Initiative and the Company's recent corporate restructuring plan; risk of the Company's inability to protect information technology (IT) systems against, or effectively respond to, cyberattacks, security breaches or other IT interruptions; food safety risks; fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for the Company's products; risks related to the Company's ability to respond to changing consumer preferences; damage to the Company's reputation or brand image; risks of litigation; risks associated with trade policies, export and import controls, and tariffs; and the other risks and uncertainties described in Item 1A – Risk Factors of the Company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which can be accessed at hormelfoods.com in the "Investors" section. Though the Company has attempted to list comprehensively these important cautionary risk factors, the Company cautions that other factors may in the future prove to be important in affecting the Company's business or results of operations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statement except as otherwise required by law.
Note: Due to rounding, numbers presented throughout this news release may not sum precisely to the totals provided, and percentages may not precisely reflect the absolute figures.
END NOTES
1Non-GAAP measure. See Appendix: Non-GAAP Measures to this news release for more information.
APPENDIX: NON-GAAP MEASURES
This news release includes measures of financial performance that are not defined by
Reconciliation of Preliminary Q1 Fiscal 2026 Non-GAAP Measures to GAAP Measures:
Quarter Ended | |
Net Sales Growth (GAAP) | 1.3 % |
Justin's, LLC Divestiture | 0.3 % |
Organic Net Sales Growth (Non-GAAP) | 1.6 % |
Quarter Ended | |
Diluted Earnings Per Share (GAAP) | $ 0.33 |
Transform and Modernize Initiative | 0.01 |
Gain on Justin's, LLC Divestiture | (0.03) |
Corporate Restructuring Plan | 0.01 |
Other | 0.01 |
Adjusted Diluted Earnings Per Share (Non-GAAP) | $ 0.34 |
Investor Contact:
IR@hormel.com
Media Contact:
Media@hormel.com
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SOURCE Hormel Foods Corporation