Hormel Foods Reports Second Quarter Results

Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, today reported results for the second quarter of fiscal 2019. All comparisons are to the second quarter of fiscal 2018 unless otherwise noted.

Executive Summary 

  • Volume of 1.2 billion lbs., up 1%
  • Record net sales of $2.3 billion, up 1%
  • Pretax earnings of $318 million, up 7%
  • Diluted earnings per share of $0.52
  • Excluding one-time gain on the divestiture of CytoSport, adjusted diluted EPS1 of $0.46 per share
  • Effective tax rate of 11.1% compared to 20.0% last year
  • Operating margin of 13.3% compared to 12.9% last year
  • Year-to-date cash flow from operations of $366 million, down 18% due to...

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