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Oct 30, 2022
Hormel Q4 2022 Earnings Report
Hormel Foods reported net sales of $3.3 billion and diluted earnings per share of $0.51 for the fourth quarter of fiscal 2022.
Key Takeaways
Hormel Foods Corporation reported results for the fourth quarter of fiscal 2022. Net sales were $3.3 billion, down 5%; operating income was $367 million, up 3%; and diluted earnings per share were $0.51, comparable to last year.
Net sales of $3.3 billion, down 5%; organic net sales up 2%, excluding the impact of an additional week last year.
Operating income of $367 million, up 3%.
Operating margin of 11.2% compared to 10.4% last year.
Diluted earnings per share of $0.51, comparable to $0.51 last year.
Revenue by Segment
Forward Guidance
The company expects to operate in a volatile, complex and high-cost environment again in fiscal 2023. Fiscal 2023 Outlook: Net Sales $12.6 - $12.9 billion (+1 - 3%) and Diluted Earnings per Share $1.83 - $1.93 (+1 - 6%).
Positive Outlook
- Well-positioned in the retail, foodservice and international channels.
- Expect to drive top-line growth.
- Higher levels of brand investment.
- Increased production capacity.
- Initial GoFWD actions further support this expectation.
Challenges Ahead
- Expect to operate in a volatile, complex and high-cost environment again in fiscal 2023.
- Higher pension expense.
- Higher feed costs for the turkey business.
- Volatile environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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