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Jul 27
Hormel Q3 2025 Earnings Report
Hormel reported Q3 2025 with strong top-line growth but margin pressures held back profitability.
Key Takeaways
Hormel Foods delivered $3.03B in revenue with adjusted EPS of $0.35 in Q3 2025. Organic sales increased 6%, though earnings were impacted by rising input costs and commodity inflation.
Revenue grew 4.6% year-over-year to $3.03B
Adjusted operating margin reached 8.4%
Net income came in at $183.7M
Foodservice organic sales rose 6.7%, but all segments saw profit decline
Hormel
Hormel
Hormel Revenue by Segment
Revenue by Segment
Retail Revenue
CapyFin.comFoodservice Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Hormel expects net sales growth to continue in Q4, supported by targeted pricing actions. However, profit recovery is projected to extend into fiscal 2026.
Positive Outlook
- Q4 sales expected between $3.15B–$3.25B
- Organic net sales forecasted to grow 1–4%
- Pricing actions underway to offset commodity inflation
- Strong retail momentum in turkey, SPAM, and Planters brands
- T&M initiative delivering measurable value
Challenges Ahead
- Earnings pressure to persist into Q4
- Commodity input costs remain elevated
- All segments saw profit decline in Q3
- Foodservice and international margins impacted by non-core pressure
- Advertising spend expected to decline in Q4
Revenue & Expenses
Visualization of income flow from segment revenue to net income