Hormel Foods Corporation (NYSE:HRL) on Thursday reported second-quarter earnings that met analyst expectations, while revenue came in slightly below estimates.
Hormel posted adjusted earnings per share of $0.35 for the quarter, in line with analyst estimates. Revenue totaled $2.9 billion, just under the consensus forecast of $2.92 billion.
The company recorded organic net sales growth of 1% during the quarter. Hormel’s Retail segment profit rose 4% despite flat net sales, driven by operational efficiencies. Meanwhile, the Foodservice segment reported 4% organic net sales growth, though segment profit declined 6% amid margin pressures.
“We achieved solid organic top-line growth and delivered second quarter results in line with our expectations,” said Jim Snee, president and CEO of Hormel Foods. “We anticipate strong second half growth led by our range of consumer-focused, protein-centric products.”
For fiscal year 2025, Hormel narrowed its organic net sales growth guidance to 2-3%, down from the previous range of 1-4%. The company now expects adjusted earnings per share between $1.58 and $1.68, tightening the prior outlook of $1.58 to $1.72.
Hormel emphasized strength in its Applegate brand, which outpaced category growth, along with notable retail sales gains for Jennie-O ground turkey products.
The company’s Mexican foods portfolio also delivered strong year-over-year growth during the quarter.