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Source checkedPublished 08-27-2026 ETFigures are from the August 27, 2026 earnings release furnished as Exhibit 99 to Form 8-K accession 0000048465-26-000053, Date of Report August 27, 2026, for the quarter ended July 26, 2026. The 8-K wrapper does not restate the tables. Item 2.02 information is furnished, not deemed filed.

Hormel Foods third-quarter net sales were $2.96 billion; diluted EPS was $0.11

Organic net sales down 2%. Operating income $111 million; adjusted $266 million. Cash from operations $241 million, up 54%. Fiscal 2026 sales now $12.1 billion to $12.2 billion. Figures from the August 27, 2026 Form 8-K.

TickerGrove Newsroom · Published 08-27-2026 · Hormel Foods Corporation

Sources

Hormel Foods Corporation Form 8-K, Item 2.02, Date of Report August 27, 2026, accession 0000048465-26-000053, accepted 2026-08-26 17:42:37, and Exhibit 99 furnished earnings release, independently re-read. EDGAR index, investor.hormelfoods.com release, and hormelfoods.com newsroom compared; figures are from the furnished exhibit.

What “Source checked” means

Net sales
$2.96 billion
Diluted EPS
$0.11
Operating income
$111 million

Q3 FY2026 figures from furnished Exhibit 99 to Form 8-K accession 0000048465-26-000053. Highlight $2.96 billion and $111 million stay next to the income-statement thousands in this ledger. GAAP diluted EPS of $0.11 stays next to adjusted $0.37. Fiscal 2026 ranges are issuer guidance as of August 27, 2026.

Hormel Exhibit 99, August 27, 2026

TickerGrove

Hormel Foods Corporation (NYSE: HRL) reported net sales of $2.96 billion for the third quarter ended July 26, 2026. Organic net sales were down 2%. Diluted earnings per share were $0.11; adjusted diluted earnings per share were $0.37. Those amounts are from the company’s August 27, 2026 earnings release, furnished the same day as Exhibit 99 to Form 8-K accession 0000048465-26-000053.

What changed

Operating income was $111 million, or 3.7% of net sales. Adjusted operating income was $266 million, or 9.0%. Earnings before income taxes were $103 million; adjusted earnings before income taxes were $258 million. Those are different measures. Cash flow from operations was $241 million, up 54%. For fiscal 2026, the company now expects net sales of $12.1 billion to $12.2 billion, organic net sales growth of 1% to 2%, diluted EPS of $1.06 to $1.12, and adjusted diluted EPS of $1.45 to $1.51. Those ranges replace prior sales of $12.2 billion to $12.5 billion, organic growth of 1% to 4%, GAAP EPS of $1.28 to $1.37, and adjusted EPS of $1.43 to $1.51. Adjusted operating income is guided at $1.08 billion to $1.12 billion.

The EDGAR index, the Form 8-K wrapper, and Exhibit 99 were re-read independently. Item 2.02 says Hormel issued an earnings release for the third quarter ended July 26, 2026, furnished as Exhibit 99. Furnished Item 2.02 information is not deemed “filed” for purposes of Section 18 of the Exchange Act unless the issuer expressly says otherwise. The 8-K wrapper does not restate the tables. The highlight lines round net sales to $2.96 billion, operating income to $111 million, and cash from operations to $241 million; the income-statement and cash-flow thousands sit in Figures and are not substituted here for that rounding.

Significant discrete pre-tax items included a $56 million loss related to the Brazil divestiture, a $48 million non-cash impairment of a minority investment in Indonesia, and a $38 million litigation settlement. The effective tax rate was 42.3%, compared with 22.3% a year earlier, and the release says it was significantly impacted by one-time items. Cash on hand, excluding assets held for sale, was $840 million. Inventories were $1.8 billion. The company returned $161 million to stockholders through dividends.

Retail volume was down 9%, net sales down 4%, organic net sales down 3%, and segment profit down 4%. Foodservice volume was down 1%, net sales up 2%, organic net sales up 2%, and segment profit up 3%; the release calls that the 12th consecutive quarter of organic net sales growth for Foodservice. International volume was down 11%, net sales down 5%, organic net sales down 4%, and segment profit down 254%, with adjusted segment profit flat.

Why it matters

GAAP operating income of $111 million is not adjusted operating income of $266 million, and GAAP diluted EPS of $0.11 is not adjusted diluted EPS of $0.37. The fiscal 2026 sales and GAAP EPS ranges were lowered; the adjusted EPS range was raised at the low end and narrowed. The Brazil Ceratti sale was announced in the third quarter and closed in the early part of the fourth quarter; the company says those expected impacts are in the updated guidance.

Context

Jeff Ettinger is interim chief executive officer. John Ghingo is president and chief executive officer-elect. A conference call was webcast at 8 a.m. CT on August 27, 2026. This page uses the furnished exhibit; it does not invent Q&A.

Adjusted earnings are not the GAAP print

Hormel printed diluted EPS of $0.11 and adjusted diluted EPS of $0.37. Net sales of $2.96 billion are the GAAP line. Organic net sales down 2% is a non-GAAP comparison after the Justin’s divestiture. Keep those objects separate.

Keep $111 million next to $266 million, and $0.11 next to $0.37

Do not substitute adjusted operating income of $266 million, or 9.0%, for GAAP operating income of $111 million, or 3.7%. Do not substitute adjusted diluted EPS of $0.37 for GAAP $0.11. The $56 million Brazil loss, $48 million Indonesia impairment, and $38 million litigation settlement stay on their own pre-tax lines. Fiscal 2026 sales of $12.1 billion to $12.2 billion and GAAP EPS of $1.06 to $1.12 are issuer guidance as of August 27, 2026, not reported results.

What we do not know

This page does not invent a share-price move, a consensus comparison, or conference-call Q&A. It does not collapse GAAP operating income of $111 million into adjusted operating income of $266 million, or GAAP diluted EPS of $0.11 into adjusted $0.37. A Form 10-Q for the quarter ended July 26, 2026 is not referenced as filed in this 8-K. The fiscal 2026 ranges are management outlooks as of August 27, 2026, not reported results.

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Sources & evidence

Primary documents used for this piece. Internal claim-lineage notes stay off this page.

  1. Hormel Foods Corporation

    Hormel Exhibit 99, August 27, 2026

    Third quarter ended July 26, 2026

  2. Hormel Foods Corporation

    Form 8-K Item 2.02, Date of Report August 27, 2026

    Accession 0000048465-26-000053; accepted 2026-08-26 17:42:37; furnished, not deemed filed

  3. Hormel Foods Corporation

    EDGAR filing index for accession 0000048465-26-000053

    Form 8-K; 13 documents; period of report 2026-08-27

  4. Hormel Foods Corporation

    Investor-relations earnings release dated August 27, 2026

    Compared on printed numbers with Exhibit 99

  5. Hormel Foods Corporation

    Hormel Foods newsroom press release dated August 27, 2026

    Compared on printed numbers with Exhibit 99

Figures used in this article

Q3 FY2026 figures from furnished Exhibit 99 to Form 8-K accession 0000048465-26-000053. Highlight $2.96 billion and $111 million stay next to the income-statement thousands in this ledger. GAAP diluted EPS of $0.11 stays next to adjusted $0.37. Fiscal 2026 ranges are issuer guidance as of August 27, 2026.

  1. Figure

    $2.96 billion

    Entity
    Hormel Foods Corporation
    Period / as-of
    Third quarter ended July 26, 2026
    Unit / basis
    highlight-table GAAP net sales; income-statement line $2,961,333 thousand vs $3,032,876 thousand

  2. Figure

    $2,961.3 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    USD millions rounded from $2,961,333 thousand GAAP net sales; not a substitute for the highlight rounding

  3. Figure

    -2%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter vs year earlier
    Unit / basis
    non-GAAP organic net sales; table prints −1.7% after excluding Justin’s

  4. Figure

    $111 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table GAAP operating income; income-statement line $110,904 thousand; not the adjusted $266 million

  5. Figure

    $266 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table adjusted operating income, non-GAAP; reconciliation prints $266,215 thousand; not GAAP $111 million

  6. Figure

    3.7%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    GAAP operating margin vs 7.9% a year earlier; not the adjusted 9.0%

  7. Figure

    9.0%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    adjusted operating margin, non-GAAP vs 8.4% a year earlier; not GAAP 3.7%

  8. Figure

    $103 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table GAAP earnings before income taxes; income-statement line $103,157 thousand; not the adjusted $258 million

  9. Figure

    $258 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table adjusted earnings before income taxes, non-GAAP; reconciliation prints $258,467 thousand; not GAAP $103 million

  10. Figure

    $0.11

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    GAAP diluted EPS vs $0.33 a year earlier; not the adjusted $0.37

  11. Figure

    $0.37

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    adjusted diluted EPS, non-GAAP vs $0.35 a year earlier; not GAAP $0.11

  12. Figure

    $241 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table cash flow from operations, +54%; cash-flow statement prints $240,599 thousand vs $156,698 thousand

  13. Figure

    54%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter vs year earlier
    Unit / basis
    % change in cash flow from operations

  14. Figure

    $56 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table discrete pre-tax loss related to the Brazil divestiture; reconciliation prints $57,379 thousand loss on divestitures

  15. Figure

    $48 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table non-cash impairment of a minority investment in Indonesia; reconciliation prints $48,218 thousand

  16. Figure

    $38 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight-table discrete pre-tax litigation settlement; reconciliation prints $37,500 thousand

  17. Figure

    42.3%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    effective tax rate vs 22.3% a year earlier; release says significantly impacted by one-time items

  18. Figure

    22.3%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Third quarter ended July 27, 2025
    Unit / basis
    year-earlier effective tax rate; not the 42.3% print

  19. Figure

    -9% / -4% / -3% / -4%

    Entity
    Hormel Foods Corporation Retail segment
    Period / as-of
    Same quarter vs year earlier
    Unit / basis
    highlight volume / net sales / organic net sales / segment profit; organic is non-GAAP

  20. Figure

    -1% / +2% / +2% / +3%

    Entity
    Hormel Foods Corporation Foodservice segment
    Period / as-of
    Same quarter vs year earlier
    Unit / basis
    highlight volume / net sales / organic net sales / segment profit; 12th consecutive quarter of organic net sales growth

  21. Figure

    12th consecutive quarter

    Entity
    Hormel Foods Corporation Foodservice segment
    Period / as-of
    Third quarter fiscal 2026
    Unit / basis
    issuer count of consecutive quarters of organic net sales growth, non-GAAP

  22. Figure

    -11% / -5% / -4% / -254%

    Entity
    Hormel Foods Corporation International segment
    Period / as-of
    Same quarter vs year earlier
    Unit / basis
    highlight volume / net sales / organic net sales / segment profit; adjusted segment profit flat, non-GAAP

  23. Figure

    $12.1 billion to $12.2 billion

    Entity
    Hormel Foods Corporation
    Period / as-of
    Fiscal 2026 management outlook as of August 27, 2026
    Unit / basis
    USD net sales range; previous $12.2 billion to $12.5 billion

  24. Figure

    1% to 2%

    Entity
    Hormel Foods Corporation
    Period / as-of
    Fiscal 2026 management outlook as of August 27, 2026
    Unit / basis
    organic net sales growth, non-GAAP; previous 1% to 4%

  25. Figure

    $1.06 to $1.12

    Entity
    Hormel Foods Corporation
    Period / as-of
    Fiscal 2026 management outlook as of August 27, 2026
    Unit / basis
    GAAP diluted EPS range; previous $1.28 to $1.37

  26. Figure

    $1.45 to $1.51

    Entity
    Hormel Foods Corporation
    Period / as-of
    Fiscal 2026 management outlook as of August 27, 2026
    Unit / basis
    adjusted diluted EPS, non-GAAP; previous $1.43 to $1.51, raised at the low end and narrowed

  27. Figure

    $1.08 billion to $1.12 billion

    Entity
    Hormel Foods Corporation
    Period / as-of
    Fiscal 2026 management outlook as of August 27, 2026
    Unit / basis
    adjusted operating income, non-GAAP; growth of 6% to 10%

  28. Figure

    $12.2 billion to $12.5 billion

    Entity
    Hormel Foods Corporation
    Period / as-of
    Prior fiscal 2026 net sales outlook replaced August 27, 2026
    Unit / basis
    USD previous net sales range; not the updated $12.1 billion to $12.2 billion

  29. Figure

    $1.28 to $1.37

    Entity
    Hormel Foods Corporation
    Period / as-of
    Prior fiscal 2026 diluted EPS outlook replaced August 27, 2026
    Unit / basis
    previous GAAP diluted EPS range; not the updated $1.06 to $1.12

  30. Figure

    $1.43 to $1.51

    Entity
    Hormel Foods Corporation
    Period / as-of
    Prior fiscal 2026 adjusted diluted EPS outlook replaced August 27, 2026
    Unit / basis
    previous adjusted diluted EPS, non-GAAP; not the updated $1.45 to $1.51

  31. Figure

    $840 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    As of July 26, 2026
    Unit / basis
    highlight cash on hand excluding assets held for sale; balance sheet cash and cash equivalents $839,639 thousand; +$169 million from fiscal 2025 year-end

  32. Figure

    $1.8 billion

    Entity
    Hormel Foods Corporation
    Period / as-of
    As of July 26, 2026
    Unit / basis
    highlight inventories; balance sheet $1,801,567 thousand; +$54 million from fiscal 2025 year-end

  33. Figure

    $161 million

    Entity
    Hormel Foods Corporation
    Period / as-of
    Same quarter
    Unit / basis
    highlight dividends returned to stockholders; cash-flow statement prints $160,963 thousand dividends paid

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