The company reaffirms its full-year sales guidance while adjusting reported EPS to $1.28-$1.37 due to a turkey business disposal.
Hormel Foods maintained its fiscal 2026 sales revenue forecast at $12.2bn to $12.5bn, despite rising fuel, logistics, and commodity costs. Organic growth reached 3% in the second quarter, with the company sticking to its 1-4% growth outlook for the year.
The protein-focused firm adjusted its reported diluted EPS guidance to $1.28-$1.37, down from February’s $1.37-$1.46 range, reflecting the $50m sales impact from the disposal of its whole-bird turkey business. Adjusted EPS remains at $1.43-$1.51, representing 4-10% growth.
Elevated fuel costs, which emerged mid-quarter, are expected to weigh more heavily in the third quarter. Hormel noted resilient consumer demand for protein, supporting its portfolio positioning.