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Sentiment · FY2026 Q3
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Pooran Sharma | Stephens | 14 (0%) |
| Tom Palmer | JPMorgan | 14 (7%) |
| Michael Lavery | Piper Sandler | 12 (17%) |
| Heather Jones | Heather Jones Research | 12 (17%) |
| Ben Theurer | Barclays | 11 (9%) |
| Peter Galbo | Bank of America | 11 (36%) |
| Rupesh Parikh | Oppenheimer | 9 (11%) |
| Max Gumport | BNP Paribas | 8 (0%) |
| Leah Jordan | Goldman Sachs | 6 (0%) |
| Ken Goldman | JPMorgan | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 2 | 18 (11%) |
| Bank of America | 3 | 14 (29%) |
| Stephens | 1 | 14 (0%) |
| Heather Jones Research | 2 |
On August 24, 2026, Hormel Foods announced the appointment of Ash Bhumbla as Executive Vice President and Chief Financial Officer, effective September 8, 2026, ending Paul R. Kuehneman's service as Interim CFO (Kuehneman continues as VP and Controller / Principal Accounting Officer). Bhumbla, 39, previously served Tyson Foods as SVP and CFO of its Chicken segment from September 2023 to August 2026.
On July 27, 2026, the board of Hormel Foods appointed John F. Ghingo, the company's current President and a director, as President and Chief Executive Officer effective October 26, 2026. Jeffrey M. Ettinger's service as Interim Chief Executive Officer concludes October 25, 2026 under his previously disclosed employment agreement; he remains a director. Ghingo's base salary moves to $1.28 million with a 150% short-term incentive target.
| 13 (15%) |
| Barclays | 3 | 13 (8%) |
| Oppenheimer | 2 | 13 (8%) |
| Piper Sandler | 1 | 12 (17%) |
| BNP Paribas | 1 | 8 (0%) |
Hormel delivered a strong fiscal Q2 with organic net sales up 3%, its sixth consecutive quarter of organic growth, and adjusted EPS of $0.40, up 14% year over year (GAAP EPS was $0.29, down 12.12%, weighed by a one-time loss on the divested whole-bird turkey business booked to SG&A). All three segments grew profit, led by foodservice (organic sales +7%, segment profit +11%) and international (organic sales +5%, segment profit +20%), while retail returned to 1% organic growth with 13% segment profit growth. Gross margin expanded 70 basis points to 17.4% on pricing, favorable mix, and improved turkey manufacturing performance. Management reaffirmed full-year net sales guidance of $12.2 to $12.5 billion and adjusted EPS of $1.43 to $1.51, and said it is trending toward the upper half of the earnings range, though it expects third quarter adjusted earnings roughly in line with the prior year on fuel, commodity, and inventory-rebalancing headwinds.
Margin | Guidance Reliability | Competitive Dynamics | Pricing | Cost Pressure | Revenue Growth | Supply Chain | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 8 | 6 | 4 | 2 | 3 | 2 | 2 | |
| 2025Q1 | 5 | 4 | 5 | 5 | 2 | 2 | 3 | 1 |
| 2025Q2 | 6 | 3 | 4 | 2 | 1 | 4 | 2 | 1 |
| 2025Q3 | 5 | 4 | 3 | 5 | 4 | 2 | 3 | 1 |
| 2025Q4 | 6 | 4 | 2 | 5 | 6 | 2 | 2 | 2 |
| 2026Q1 | 4 | 2 | 2 | 2 | 1 | 3 | 2 | 3 |
| 2026Q2 | 5 | 3 | 2 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Margin | 8 | 5 | 6 | 5 | 6 | 4 | 5 |
| Guidance Reliability | 6 | 4 | 3 | 4 | 4 | 2 | 3 |
| Competitive Dynamics | 4 | 5 | 4 | 3 | 2 | 2 | 2 |
| Pricing | 2 | 5 | 2 | 5 | 5 | 2 | |
| Cost Pressure | 3 | 2 | 1 | 4 | 6 | 1 | 2 |
| Revenue Growth | 2 | 2 | 4 | 2 | 2 | 3 | 1 |
| Supply Chain | 2 | 3 | 2 | 3 | 2 | 2 | 1 |
| Capital Allocation | 1 | 1 | 1 | 2 | 3 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.14B | -1.9% | $0.40 | +11.1% | 16.6% | 9.4% | 7.0% | $325M |
| FY2025 Q1 | $2.99B | -0.3% | $0.31 | -22.5% | 15.9% | 7.6% | 5.7% | $237M |
| FY2025 Q2 | $2.90B | +0.4% | $0.33 | -2.9% | 16.7% | 8.6% | 6.2% | $-19M |
| FY2025 Q3 | $3.03B | +4.6% | $0.33 | +3.1% | 16.1% | 7.9% | 6.1% | $85M |
| FY2025 Q4 | $3.19B | +1.5% | $-0.10 | -125.0% | 14.0% | 0.1% | -1.8% | $231M |
| FY2026 Q1 | $3.03B | +1.3% | $0.33 | +6.5% | 15.5% | 8.0% | 6.0% | $280M |
| FY2026 Q2 | $2.97B | +2.5% | $0.29 | -12.1% | 17.4% | 7.3% | 5.3% | $97M |
| FY2026 Q3 | $2.96B | -2.4% | $0.11 | -66.7% | 15.9% | 3.7% | 2.0% | $172M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What HRL and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Rice-A-Roni is a great example. SPAM, you can see in the stores. Frank's hot sauce, and then we put that on everything.”
Dollar Tree regained branded products like Hormel's SPAM at its new $1.50 price point, a read-through to restored Dollar Tree distribution for Hormel.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HRL Hormel Foods | 6 | +2.5% | |
| CAG Conagra Brands | 6 | +3.6% | |
| CPB Campbell Soup Company | 1 | -4.4% | |
| GIS General Mills | 6 | +1.2% | |
| KHC Kraft Heinz | 4 | -1.4% | |
| MKC McCormick & Company | 6 | +16.7% | |
| SJM J.M. Smucker Company (The) | 8 | +5.8% |