Filing Flows › Hormel Foods (HRL) › Q2 FY26 › vs Q2 FY25
Hormel Foods (HRL) Q2 FY26 vs Q2 FY25 (year over year)
Hormel Foods's revenue rose $73.8M (+3%) from $2.9B in Q2 FY25 to $3.0B in Q2 FY26. The biggest changes: Perishable +$143M (+7%); Shelf-stable −$68.8M (-8%). Gross margin 17.4% against 16.7% (+0.7 pts).
Hormel Foods, Q2 FY26: revenue $3.0B (+2% year over year), operating margin 7.3%, net earnings $157M, operating cash flow $179M. The chart draws each line against Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Gross margin | 17.4% | 16.7% | +0.7 pts |
| Operating margin | 7.3% | 8.6% | -1.3 pts |
| Net margin | 5.3% | 6.2% | -0.9 pts |
| Free cash flow margin | 3.3% | -0.6% | +3.9 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Perishable | $2.2B | $2.1B | $143M | +7% |
| Shelf-stable | $754M | $823M | −$68.8M | -8% |
| Revenue | $3.0B | $2.9B | $73.8M | +3% |
| Gross profit | $519M | $484M | $34.1M | +7% |
| Cost of revenue | $2.5B | $2.4B | $39.7M | +2% |
| Operating profit | $217M | $248M | −$31.2M | -13% |
| Operating expenses | $301M | $236M | $65.3M | +28% |
| Pre-tax earnings | $206M | $230M | −$24.4M | -11% |
| Other expense, net | $11.0M | $17.9M | −$6.8M | -38% |
| Net earnings | $157M | $180M | −$22.4M | -12% |
| Income tax | $48.7M | $50.7M | −$2.1M | -4% |
| Depreciation & amortization | $68.8M | $64.0M | $4.9M | +8% |
| Share-based compensation | $9.5M | $11.1M | −$1.6M | -14% |
| Working capital & other | $56.8M | $198M | −$142M | -71% |
| Operating cash flow | $179M | $56.4M | $122M | +217% |
| Free cash flow (OCF − capex) | $96.8M | −$18.6M | $115M | — |
| Capital expenditures | $82.2M | $75.1M | $7.1M | +9% |
Questions
How much did Hormel Foods's revenue grow year over year in Q2 FY26?
Hormel Foods's revenue rose $73.8M (+3%) from $2.9B in Q2 FY25 to $3.0B in Q2 FY26.
What drove Hormel Foods's revenue change in Q2 FY26?
Perishable +$143M (+7%); Shelf-stable −$68.8M (-8%).