Description

Hormel Foods’ Hidden Growth Engine — Foodservice Keeps Defying Industry Pressure!

Hormel Foods Corporation reported mixed third-quarter fiscal 2026 results, with a modest decline in organic net sales offset by higher adjusted earnings. Adjusted EPS increased 6% year-over-year as the company continued focusing on profitable growth amid consumer pressure and portfolio changes. Organic net sales declined 2%, mainly reflecting deliberate portfolio actions including the divestiture of the whole-bird turkey business, the exit from certain private-label snack nut products, softer commodity markets, and continued consumer headwinds. Several strategic brands nevertheless grew, including Jennie-O ground turkey, Applegate, Hormel chili, refrigerated entrees, and Planters. Foodservice remained a key strength, delivering its 12th consecutive quarter of organic net sales growth despite broader industry pressures. Disciplined product mix and profitability management also supported margin performance. Internationally, Hormel exited Brazil to concentrate resources more heavily on Asia-Pacific.