Filing Flows › Hormel Foods (HRL) › Q3 FY26 › vs Q3 FY25
Hormel Foods (HRL) Q3 FY26 vs Q3 FY25 (year over year)
Hormel Foods's revenue fell $71.5M (-2%) from $3.0B in Q3 FY25 to $3.0B in Q3 FY26. The biggest changes: Shelf-stable −$37.7M (-5%); Perishable −$33.8M (-2%). Gross margin 15.9% against 16.1% (-0.1 pts).
Hormel Foods, Q3 FY26: revenue $3.0B (-2% year over year), operating margin 3.7%, net earnings $59.5M, operating cash flow $241M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 15.9% | 16.1% | -0.1 pts |
| Operating margin | 3.7% | 7.9% | -4.2 pts |
| Net margin | 2.0% | 6.1% | -4.0 pts |
| Free cash flow margin | 5.8% | 2.8% | +3.0 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Perishable | $2.2B | $2.2B | −$33.8M | -2% |
| Shelf-stable | $773M | $810M | −$37.7M | -5% |
| Revenue | $3.0B | $3.0B | −$71.5M | -2% |
| Gross profit | $472M | $487M | −$15.8M | -3% |
| Cost of revenue | $2.5B | $2.5B | −$55.7M | -2% |
| Operating profit | $111M | $240M | −$129M | -54% |
| Operating expenses | $361M | $248M | $113M | +46% |
| Pre-tax earnings | $103M | $237M | −$133M | -56% |
| Net earnings | $59.5M | $184M | −$124M | -68% |
| Income tax | $43.6M | $52.8M | −$9.2M | -17% |
| Depreciation & amortization | $66.4M | $64.7M | $1.7M | +3% |
| Share-based compensation | $4.8M | $4.9M | −$4K | -0.1% |
| Working capital & other | $110M | −$96.5M | $206M | — |
| Operating cash flow | $241M | $157M | $83.9M | +54% |
| Free cash flow (OCF − capex) | $172M | $84.5M | $87.9M | +104% |
| Capital expenditures | $68.2M | $72.2M | −$4.0M | -6% |
Questions
How much did Hormel Foods's revenue grow year over year in Q3 FY26?
Hormel Foods's revenue fell $71.5M (-2%) from $3.0B in Q3 FY25 to $3.0B in Q3 FY26.
What drove Hormel Foods's revenue change in Q3 FY26?
Shelf-stable −$37.7M (-5%); Perishable −$33.8M (-2%).