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Oct 31, 2021
Hormel Q4 2021 Earnings Report
Hormel Foods reported record fourth-quarter sales and earnings, driven by double-digit sales growth from every segment.
Key Takeaways
Hormel Foods reported record sales of $3.5 billion and record diluted earnings per share of $0.51 for the fourth quarter of fiscal 2021. All segments contributed to the growth, with particularly strong performance in the foodservice channel. The company also issued earnings guidance with sales and earnings growth expected from all four segments.
Volume of 1.4 billion lbs., up 14%; organic volume up 8%
Record net sales of $3.5 billion, up 43%; organic net sales up 32%
Operating income of $358 million, up 29%
Record diluted earnings per share of $0.51, up 19% from $0.43
Forward Guidance
The company expects all four segments to deliver sales and earnings growth in fiscal year 2022. Strength in the Planters snack nuts business and organic growth in each segment will drive growth in excess of the company's long-term growth goals.
Positive Outlook
- Continued strong demand across all businesses
- Improved production throughput
- Impact of pricing actions
- Strategic investments including capacity expansions for pizza toppings, dry sausage, and bacon
- Full year of the Planters snack nuts business
Challenges Ahead
- Complex operating environment
- Impact of the Jennie-O Turkey Store transformation initiatives
- New pork raw material supply agreement
- 52 weeks compared to 53 weeks in fiscal 2021
Historical Earnings Impact
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Avg. Return Before/After Earnings
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