First Take: F2Q Beat and FY26 Guidance Reiterated

Hormel Foods Corp (HRL) reported second-quarter adjusted EPS of $0.40, beating expectations, and reaffirmed its full-year 2026 financial guidance.

Key Takeaways

• 1.HRL reported a F2Q adj EPS of $0.40, which beat the Goldman Sachs and consensus estimates of $0.35/$0.36.
• 2.The company reiterated its full-year 2026 guidance, including an adj EPS range of $1.43-1.51 and net sales of $12.2-12.5bn.
• 3.Revenue growth of +2.5% was driven by strength in Retail and Foodservice, despite some light performance in the International segment.

Table of Contents

• Key Takeaways
• Implications
• Valuation & Risks
• Disclosure Appendix
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

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