Hormel Foods Corporation Announces Leadership Appointment and Provides Business Updates

Fourth Quarter Update

The Company also provided an update on several topics related to its fiscal 2025 fourth quarter, which ended on October 26, 2025.

The Company continues to anticipate strong top-line results for the fourth quarter, driven by sustained demand across its retail, foodservice, and international businesses. Key contributors include the Company’s turkey portfolio, the PLANTERS^® brand, and its leading positions in the marketplace.

While the Company’s protein-centric portfolio remained relevant to customers and consumers in the quarter, the Company continued to experience persistent inflation in key commodity inputs, at levels exceeding expectations. Additionally, the Company was impacted by the spread of highly pathogenic avian influenza (HPAI) and pneumoviruses within the poultry industry. Hormel Foods remains focused on mitigating these headwinds through productivity initiatives and strategic pricing actions.

Late in the quarter, a fire occurred at the Company’s Little Rock, Arkansas, peanut butter production facility. The incident was quickly contained with no reported injuries. Repairs are underway, and full production is expected to resume early in the first quarter of fiscal 2026. Further, on October 25, 2025, the Company issued a voluntary, class 1 recall related to certain chicken products sold in foodservice channels. The Company continues to prioritize operational integrity, with comprehensive protocols in place to ensure the safety of its team members and products.

Collectively, Hormel Foods expects net sales growth for the quarter toward the top end of the Company’s previously issued guidance range and adjusted earnings per share approximately $0.08 to $0.09 below its prior expectations. The Company is not reaffirming its previously issued GAAP earnings per share guidance range, pending completion of normal year-end financial closing procedures. As part of these procedures, the Company anticipates recording non-cash impairment charges, primarily related to its International segment and its snack nuts business.

“We remain confident in the relevance of our portfolio and our brands and are encouraged by the continued top-line momentum of our business,” said Ettinger. “Despite the recent impacts of inflationary pressures and isolated operational disruptions, we believe we are well-positioned to navigate these temporary challenges and are committed to delivering long-term, sustainable growth and value for our shareholders.”

Hormel Foods will provide a comprehensive review of its final fourth quarter and full-year results, along with its fiscal 2026 outlook, during its regularly scheduled earnings release and conference call in early December.

Estimates for the fourth quarter of fiscal 2025 presented in this release are preliminary and represent the most current information available to management. Actual results for the quarter may differ due to the completion of the Company’s financial closing procedures. The Company has not provided a reconciliation of preliminary results for adjusted earnings per share, as it is not able as of this date, without unreasonable effort, to finalize items required to develop a meaningful comparable GAAP financial measure.