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Jul 25, 2021
Hormel Q3 2021 Earnings Report
Hormel Foods reported all-time record sales during the quarter.
Key Takeaways
Hormel Foods reported record net sales of $2.9 billion, up 20%, with growth from all segments and channels. Diluted earnings per share were $0.32, down 14%, but adjusted diluted earnings per share were $0.39, up 5%. The company expects to deliver record sales again in the fourth quarter.
Delivered the highest quarterly net sales result in the company's history.
Successfully integrated the Planters® business.
Saw significant inflationary pressure in almost all areas of the business.
Expect to deliver record sales again in the fourth quarter, along with improving margins as additional pricing actions go into effect.
Forward Guidance
We expect to deliver record sales again in the fourth quarter, along with improving margins as additional pricing actions go into effect. The combination of a balanced and diversified portfolio, numerous strategic investments and the addition of the Planters® brand leaves us very optimistic about our future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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