Hormel Foods Corporation (HRL)

Hormel Foods Income Statement

Financials in millions USD. Fiscal year is November - October.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jul 28, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019
Revenue	11,981	12,110	12,459	11,386	9,608	9,497
Revenue Growth (YoY)	-1.76%	-2.80%	9.42%	18.50%	1.17%	-0.51%
Cost of Revenue	9,961	10,110	10,294	9,445	7,782	7,613
Gross Profit	2,020	2,000	2,165	1,941	1,826	1,885
Selling, General & Admin	889.79	908.47	844.57	789.17	729.42	711.58
Research & Development	33.7	33.7	34.7	33.6	31.9	32.5
Operating Expenses	923.49	942.17	879.27	822.77	761.32	744.08
Operating Income	1,096	1,058	1,285	1,118	1,065	1,141
Interest Expense	-79.82	-73.4	-62.52	-43.31	-21.07	-18.07
Interest & Investment Income	37.54	14.83	28.01	46.88	35.6	31.52
Earnings From Equity Investments	39.79	42.75	27.19	47.76	35.57	39.2
Other Non Operating Income (Expenses)	0	-	-	-	-0	-
EBT Excluding Unusual Items	1,094	1,042	1,278	1,169	1,115	1,193
Merger & Restructuring Charges	-35.66	-	-	-43.2	-	-
Impairment of Goodwill	-28.38	-28.38	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-	16.5
Pretax Income	1,001	1,013	1,278	1,126	1,115	1,210
Income Tax Expense	221.06	220.55	277.88	217.03	206.39	230.57
Earnings From Continuing Operations	780.15	792.92	1,000	909.14	908.35	979.15
Minority Interest in Earnings	0.62	0.65	-0.24	-0.3	-0.27	-0.34
Net Income	780.78	793.57	999.99	908.84	908.08	978.81
Net Income to Common	780.78	793.57	999.99	908.84	908.08	978.81
Net Income Growth	-11.02%	-20.64%	10.03%	0.08%	-7.23%	-3.29%
Shares Outstanding (Basic)	548	546	545	541	538	535
Shares Outstanding (Diluted)	549	549	550	548	547	545
Shares Change (YoY)	-0.17%	-0.11%	0.36%	0.18%	0.25%	0.25%
EPS (Basic)	1.43	1.45	1.84	1.68	1.69	1.83
EPS (Diluted)	1.43	1.45	1.82	1.66	1.66	1.80
EPS Growth	-10.88%	-20.33%	9.64%	0%	-7.78%	-3.23%
Free Cash Flow	902.87	777.64	856.06	769.52	760.52	629.16
Free Cash Flow Per Share	1.65	1.42	1.56	1.41	1.39	1.15
Dividend Per Share	1.123	1.100	1.040	0.980	0.930	0.840
Dividend Growth	3.46%	5.77%	6.12%	5.38%	10.71%	12.00%
Gross Margin	16.86%	16.51%	17.37%	17.05%	19.00%	19.84%
Operating Margin	9.15%	8.73%	10.32%	9.82%	11.08%	12.01%
Profit Margin	6.52%	6.55%	8.03%	7.98%	9.45%	10.31%
Free Cash Flow Margin	7.54%	6.42%	6.87%	6.76%	7.92%	6.62%
EBITDA	1,354	1,311	1,521	1,327	1,270	1,306
EBITDA Margin	11.30%	10.83%	12.21%	11.66%	13.22%	13.75%
D&A For EBITDA	257.34	253.31	235.89	209.31	205.78	165.21
EBIT	1,096	1,058	1,285	1,118	1,065	1,141
EBIT Margin	9.15%	8.73%	10.32%	9.82%	11.08%	12.01%
Effective Tax Rate	22.08%	21.76%	21.74%	19.27%	18.51%	19.06%
Advertising Expenses	-	160.1	157.3	138.5	123.6	131.1

Source: S&P Capital IQ. Standard template. Financial Sources.