Hormel Foods Corp
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.11B | $11.99B | $12.11B | $12.46B | $11.39B | $9.61B | $9.50B | $9.55B |
| Grocery Products | — | $0 | $0 | $3.43B | $2.75B | $2.43B | $2.28B | $2.47B |
| Refrigerated Foods | — | $0 | $0 | $6.54B | $6.10B | $5.23B | $5.28B | $5.14B |
| Jennie-O Turkey Store | — | $0 | $0 | $1.44B | $1.48B | $1.26B | $1.27B | $1.30B |
| Specialty Foods | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| International & Other | — | $0 | $0 | $1.05B | $1.06B | $686.3M | $666.8M | $630.9M |
| Retail | — | $7.48B | $7.73B | $0 | $0 | $0 | $0 | $0 |
| Foodservice | — | $3.64B | $3.52B | $0 | $0 | $0 | $0 | $0 |
| International | — | $873.4M | $868.1M | $0 | $0 | $0 | $0 | $0 |
| Cost of Revenue | $10.21B | $9.90B | $10.11B | $10.29B | $9.46B | $7.78B | $7.61B | $7.57B |
| Gross Profit | $1.89B | $2.02B | $2.00B | $2.16B | $1.93B | $1.83B | $1.88B | $1.98B |
| Gross Margin | 15.6% | 16.9% | 16.5% | 17.4% | 16.9% | 19.0% | 19.8% | 20.7% |
| Operating Expenses | ||||||||
| Research & Development | $35.2M | $36.1M | $33.7M | $34.7M | $33.6M | $31.9M | $32.5M | $33.8M |
| SG&A Expense | $996.6M | $1.01B | $942.2M | $879.3M | $853.1M | $761.3M | $727.6M | $841.2M |
| Operating Income | $718.6M | $1.07B | $1.07B | $1.31B | $1.12B | $1.10B | $1.20B | $1.18B |
| Operating Margin | 5.9% | 8.9% | 8.9% | 10.5% | 9.9% | 11.5% | 12.6% | 12.4% |
| Interest Expense | — | — | $73.4M | $62.5M | $43.3M | $21.1M | $18.1M | $26.5M |
| Pretax Income | $663.4M | $1.04B | $1.01B | $1.28B | $1.13B | $1.11B | $1.21B | $1.18B |
| Income Tax Expense | $185.7M | $230.8M | $220.6M | $277.9M | $217.0M | $206.4M | $230.6M | $168.7M |
| Net Income | $478.2M | $805.0M | $793.6M | $1,000.0M | $908.8M | $908.1M | $978.8M | $1.01B |
| Net Margin | 4.0% | 6.7% | 6.6% | 8.0% | 8.0% | 9.5% | 10.3% | 10.6% |
| EPS (Basic) | $0.87 | $1.47 | $1.45 | $1.84 | $1.68 | $1.69 | $1.83 | $1.91 |
| EPS (Diluted) | $0.87 | $1.47 | $1.45 | $1.82 | $1.66 | $1.66 | $1.80 | $1.86 |
| Shares Outstanding (Basic) | 550.2M | 548.1M | 546.4M | 544.9M | 541.1M | 538.0M | 534.6M | 530.7M |
| Shares Outstanding (Diluted) | 550.5M | 548.8M | 549.0M | 549.6M | 547.6M | 546.6M | 545.2M | 543.9M |
| Dividends Per Share | $1.16 | $1.13 | $1.10 | $1.04 | $0.98 | $0.93 | $0.84 | $0.75 |