Filing Flows › Hormel Foods (HRL) › Q4 FY24
Hormel Foods (HRL) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Dec 5, 2024
Hormel Foods (HRL) reported revenue of $3.1B for the fourth quarter fiscal 2024 (Q4 FY24), -2% from a year earlier and +8% from the quarter before. Operating margin was 9.4%, net earnings $220M (7.0% of revenue).
Hormel Foods, Q4 FY24: revenue $3.1B (-2% year over year), operating margin 9.4%, net earnings $220M, operating cash flow $409M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1B | +8% | -2% |
| Gross profit | $521M | +7% | +1% |
| Operating profit | $294M | +24% | +9% |
| Net earnings | $220M | +24% | +13% |
| Operating cash flow | $409M | +87% | +28% |
| Free cash flow | $325M | +113% | +49% |
What changed
Revenue was $3.1B in Q4 FY24, down 2% year over year and up 8% from the previous quarter. Perishable was the largest line at 73% of revenue.
Gross margin was 16.6%, up 0.5 points from a year earlier. Operating profit was $0.29B, a 9.4% margin (up 0.9 points year over year). Operating expenses fell 7% while revenue fell 2%. Net earnings were $0.22B, up 12% year over year. The effective tax rate was 21.5%.
Operating cash flow was $0.41B (up 28% year over year), 186% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.08B left free cash flow of $0.32B.
Questions
What was Hormel Foods' revenue in the fourth quarter fiscal 2024?
Hormel Foods (HRL) reported revenue of $3.1B for the fourth quarter fiscal 2024 (Q4 FY24), -2% from a year earlier and +8% from the quarter before.
Was Hormel Foods profitable in the fourth quarter fiscal 2024?
Operating profit was $294M (9.4% of revenue) and net earnings $220M.
Source: Hormel Foods 10-K on SEC EDGAR.