Hormel Foods announced preliminary first quarter fiscal 2026 results showing net sales of $3 billion with 2% organic net sales growth and diluted EPS of $0.33, adjusted diluted EPS of $0.34. The company reaffirmed full-year adjusted guidance. Separately, Hormel entered a definitive agreement to sell its whole-bird turkey business to Life-Science Innovations. The transaction includes the Melrose production facility and Swanville feed mill, with expected closing by late second quarter fiscal 2026. The JENNIE-O brand is not impacted by the sale. Hormel appointed Will Bonifant, a Hershey veteran, as Chief Supply Chain Officer to address supply chain efficiency and input cost volatility. Stephens analyst trimmed the price target to $25 from $27 while maintaining an Equal Weight rating, citing near-term margin pressure in Q1.
Read full analysisHormel Foods announced preliminary first quarter fiscal 2026 results showing net sales of $3 billion with 2% organic net sales growth and diluted EPS of $0.33, adjusted diluted EPS of $0.34. The company reaffirmed full-year adjusted guidance. Separately, Hormel entered a definitive agreement to sell its whole-bird turkey business to Life-Science Innovations. The transaction includes the Melrose production facility and Swanville feed mill, with expected closing by late second quarter fiscal 2026. The JENNIE-O brand is not impacted by the sale. Hormel appointed Will Bonifant, a Hershey veteran, as Chief Supply Chain Officer to address supply chain efficiency and input cost volatility. Stephens analyst trimmed the price target to $25 from $27 while maintaining an Equal Weight rating, citing near-term margin pressure in Q1.
Hormel Foods is a Fortune 500 packaged food company known for brands including SPAM, JENNIE-O, Skippy, and Applegate, spanning refrigerated meats, shelf-stable products, and foodservice. The company has been working to shift its portfolio toward higher-margin, value-added products and away from commodity-driven businesses. Today's announced sale of its whole-bird turkey operations and preliminary quarterly results showing continued organic growth directly reflect that strategic pivot.