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Hormel Foods Reports Third Quarter Fiscal 2023 Results

Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today reported results for the third quarter of fiscal 2023. All comparisons are to the third quarter of fiscal 2022 unless otherwise noted.

EXECUTIVE SUMMARY — THIRD QUARTER

  • Net sales of $3.0 billion
  • Operating income of $217 million, reflecting the impact of an adverse arbitration ruling totaling $70 million; adjusted operating income of $287 million
  • Operating margin of 7.3%; adjusted operating margin1 of 9.7%
  • Earnings before income taxes of $208 million; adjusted earnings before income...

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