NYSE$HRL
Hormel Foods Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Hormel Foods reported third quarter fiscal 2023 results, with volume growth in each segment and progress on key initiatives.
Hormel Foods reported Q3 2023 results with net sales of $3.0 billion and operating income of $217 million, impacted by a $70 million adverse arbitration ruling. Adjusted net earnings per share were in line with last year.
- Volume grew across all segments.
- Adjusted net earnings per share were in line with the previous year.
- Progress was made in reducing inventory and building momentum in the Planters snack nuts business.
- The Foodservice segment delivered another quarter of strong bottom-line growth.
Headline financials
Revenue & EPS history
Hormel · Revenue · Quarterly
$2.96B
Revenue by segment
Hormel · $171M total across 1 segment · Q4 2022
- International$171M—100.0%
Forward guidance
The Company expects modest volume growth in the fourth quarter, with net sales between $3.1 billion and $3.6 billion. Full-year net sales are expected to be down (4)% to flat. Fourth quarter diluted net earnings per share are expected to be down from last year.
Tailwinds
- Growth from the Foodservice segment
- Continued recovery in turkey
- Improved fill rates in key categories
Headwinds
- Continued weakness in the International segment
- Lower Retail segment results
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
-0.3%
Avg return
Earnings day
-0.9%
Avg return
5 days after
-0.9%
Avg return
30 days after
49%
33 / 68 earnings
Positive
+8.2%
Q1 2024
Best reaction
-13.1%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +0.0% | -2.8% | -8.9% | |
| Q4 2025 | +3.8% | +3.3% | +1.3% | |
| Q3 2025 | -13.1% | -13.7% | -14.8% | |
| Q2 2025 | +1.2% | +2.7% | +1.4% | |
| Q1 2025 | -1.2% | +0.6% | +5.7% | |
| Q4 2024 | +3.3% | +4.3% | -1.4% | |
| Q3 2024 | -3.1% | -2.2% | -5.4% | |
| Q2 2024 | -9.1% | -9.9% | -10.6% | |
| Q1 2024 | +8.2% | +10.3% | +13.2% | |
| Q4 2023 | -4.3% | -0.7% | +0.5% | |
| Q3 2023 | -3.2% | -5.1% | -4.1% | |
| Q2 2023 | +6.6% | +5.7% | +5.2% | |
| Q1 2023 | -7.3% | -8.8% | -9.0% | |
| Q4 2022 | -1.2% | -2.1% | -5.5% | |
| Q3 2022 | -7.7% | -7.4% | -9.6% | |
| Q2 2022 | -6.5% | -5.5% | -1.2% | |
| Q1 2022 | +6.0% | +8.6% | +8.2% | |
| Q4 2021 | +7.5% | +11.9% | +16.5% | |
| Q3 2021 | -6.3% | -7.6% | -10.5% | |
| Q2 2021 | +7.5% | +6.6% | +3.2% | |
| Q1 2021 | +0.3% | +0.8% | +2.2% | |
| Q4 2020 | -6.3% | -5.7% | -5.7% | |
| Q3 2020 | -3.2% | -3.8% | -8.3% | |
| Q2 2020 | -2.2% | -4.7% | +1.2% | |
| Q1 2020 | -7.6% | -7.7% | -6.9% | |
| Q4 2019 | +5.0% | +4.1% | +5.9% | |
| Q3 2019 | +2.5% | +3.5% | +4.8% | |
| Q2 2019 | +2.0% | -1.6% | +4.9% | |
| Q1 2019 | -0.5% | -2.2% | +1.1% | |
| Q4 2018 | +0.2% | +0.7% | -5.7% | |
| Q3 2018 | -1.4% | -1.6% | +3.9% | |
| Q2 2018 | +0.1% | +1.9% | +1.3% | |
| Q1 2018 | -0.1% | +0.2% | -0.4% | |
| Q4 2017 | +2.6% | +3.0% | +9.0% | |
| Q3 2017 | -7.6% | -8.7% | -7.8% | |
| Q2 2017 | -6.4% | -6.0% | -1.3% | |
| Q1 2017 | -7.1% | -5.5% | -7.5% | |
| Q4 2016 | +0.8% | +2.6% | +0.6% | |
| Q3 2016 | +6.4% | +7.5% | +0.1% | |
| Q2 2016 | -8.8% | — | — | |
| Q1 2016 | +7.2% | — | — | |
| Q4 2015 | +6.2% | — | — | |
| Q3 2015 | +5.1% | — | — | |
| Q2 2015 | +3.1% | — | — | |
| Q1 2015 | +3.2% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +4.4% | — | — | |
| Q2 2014 | -4.6% | — | — | |
| Q1 2014 | +3.1% | — | — | |
| Q4 2013 | +6.1% | — | — | |
| Q3 2013 | +1.4% | — | — | |
| Q2 2013 | -2.0% | — | — | |
| Q1 2013 | +2.8% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | +1.3% | — | — | |
| Q2 2012 | +1.7% | — | — | |
| Q1 2012 | -0.9% | — | — | |
| Q2 2011 | +1.2% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q4 2008 | +1.2% | — | — | |
| Q3 2011 | -2.4% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q1 2010 | -0.1% | — | — | |
| Q2 2010 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q3 2009 | -0.4% | — | — | |
| Q4 2009 | -0.4% | — | — |
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