Filing Flows › Hormel Foods (HRL) › Q2 FY26
Hormel Foods (HRL) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 28, 2026
Hormel Foods (HRL) reported revenue of $3.0B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and -2% from the quarter before. Operating margin was 7.3%, net earnings $157M (5.3% of revenue).
Hormel Foods, Q2 FY26: revenue $3.0B (+2% year over year), operating margin 7.3%, net earnings $157M, operating cash flow $179M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -2% | +3% |
| Gross profit | $519M | +10% | +7% |
| Operating profit | $217M | -11% | -13% |
| Net earnings | $157M | -13% | -12% |
| Operating cash flow | $179M | -49% | +217% |
| Free cash flow | $96.8M | -65% | — |
What changed
Revenue was $3.0B in Q2 FY26, up 3% year over year and down 2% from the previous quarter. Perishable was the largest line at 75% of revenue. Perishable added $0.14B year over year (up 7%), 193% of the total change. Shelf-stable declined 8%.
Gross margin was 17.4%, up 0.7 points from Q2 FY25. Operating profit was $0.22B, a 7.3% margin (down 1.3 points year over year). Operating profit fell $0.03B even though revenue rose $0.07B versus Q2 FY25, so costs grew faster than sales. Operating expenses grew 28% against revenue growth of 3%. Net earnings were $0.16B, down 13% year over year. The effective tax rate was 23.6%.
Operating cash flow was $0.18B (up 217% year over year), 114% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.06B. Capital expenditures of $0.08B left free cash flow of $0.10B.
Questions
What was Hormel Foods' revenue in the second quarter fiscal 2026?
Hormel Foods (HRL) reported revenue of $3.0B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and -2% from the quarter before.
Was Hormel Foods profitable in the second quarter fiscal 2026?
Operating profit was $217M (7.3% of revenue) and net earnings $157M.
Source: Hormel Foods 10-Q on SEC EDGAR.