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Apr 26, 2020
Hormel Q2 2020 Earnings Report
Hormel Foods reported second quarter results, demonstrating the value of its balanced business model amidst a rapidly changing environment.
Key Takeaways
Hormel Foods reported a 3% increase in net sales to $2.4 billion and a diluted earnings per share of $0.42, a 19% decrease compared to last year. The company withdrew its full-year sales and earnings guidance due to uncertainty related to the COVID-19 pandemic.
Volume of 1.2 billion lbs., up 4%; organic volume up 7%
Record net sales of $2.4 billion, up 3%; organic net sales up 6%
Pretax earnings of $286 million, down 10%; down 5% to adjusted pretax earnings last year primarily due to lower investment income
Operating free cash flow of $280 million, up 115%
Revenue by Segment
Forward Guidance
Due to the uncertainty created by the COVID-19 pandemic, including potential supply chain interruptions and the foodservice industry's recovery, Hormel Foods is withdrawing its full-year sales and earnings guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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