Hormel Foods (HRL) Annual Income Statement

Income Statement Summary

Hormel Foods (HRL) annual income statement covering fiscal 2020 through 2025, as reported to the SEC.

Hormel Foods reported net Sales of $12.11B in fiscal 2025, up 1.6% from $11.92B in fiscal 2024.
Gross Profit was $1.89B, down 6.4% from $2.02B. That is a gross margin of 15.6%.
Operating Income was $718.6M, down 32.7% from $1.07B. Operating margin was 5.9%.
Net Earnings were $478.2M, down 40.6% from $805.04M. Net margin was 4%.
Diluted (in dollars per share) was $0.87, down 40.8% from $1.47.
Cost of Products Sold took 84.4% of net Sales and selling, General, and Administrative 8.2%.

Net Sales have grown 4.7% a year on average since fiscal 2020, from $9.61B to $12.11B.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD millions, except per share data

						Oct'25	Oct'24	Oct'23	Oct'22	Oct'21	Oct'20
Net Sales
12,106	11,920	12,110	12,458	11,386	9,608	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Sales						12,106	11,920	12,110	12,458	11,386	9,608	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of Products Sold
10,214	9,898	10,110	10,294	9,458	7,782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of Products Sold						10,214	9,898	10,110	10,294	9,458	7,782	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross Profit
1,891	2,022	1,999	2,164	1,927	1,825	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross Profit						1,891	2,022	1,999	2,164	1,927	1,825	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, General, and Administrative
996	1,005	942	879	853	761	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, General, and Administrative						996	1,005	942	879	853	761	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity in Earnings of Affiliates
-105	51	42	27	47	35	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity in Earnings of Affiliates						-105	51	42	27	47	35	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill and Intangible Impairment
70	-	28	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill and Intangible Impairment						70	-	28	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating Income
718	1,067	1,072	1,312	1,122	1,100	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating Income						718	1,067	1,072	1,312	1,122	1,100	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest Income
24	40	23	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest Income						24	40	23	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest and Investment Income
-	-	-	28	46	35	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest and Investment Income						-	-	-	28	46	35	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest Expense
78	80	73	62	43	21	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest Expense						78	80	73	62	43	21	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other Income (Expense), Net
-1	8	-8	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other Income (Expense), Net						-1	8	-8	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings Before Income Taxes
663	1,035	1,013	1,278	1,126	1,114	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings Before Income Taxes						663	1,035	1,013	1,278	1,126	1,114	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for Income Taxes
185	230	220	277	217	206	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for Income Taxes						185	230	220	277	217	206	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Earnings
477	804	792	1,000	909	908	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Earnings						477	804	792	1,000	909	908	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest
-0	-0	-0	0	0	0	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest						-0	-0	-0	0	0	0	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Earnings Attributable to Hormel Foods Corporation
478	805	793	999	908	908	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Earnings Attributable to Hormel Foods Corporation						478	805	793	999	908	908	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net Earnings Per Share:
Basic (in dollars per share)
0.87	1.47	1.45	1.84	1.68	1.69	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						0.87	1.47	1.45	1.84	1.68	1.69	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
0.87	1.47	1.45	1.82	1.66	1.66	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						0.87	1.47	1.45	1.82	1.66	1.66	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average Shares Outstanding:
Basic (in shares)
550	548	546	544	541	538	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in shares)						550	548	546	544	541	538	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)
550	548	548	549	547	546	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)						550	548	548	549	547	546	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx