Hormel Foods Corporation (NYSE: HRL) is a consumer packaged food company that produces and sells branded meat and food products across retail, foodservice, and international channels. Revenue is generated through the transactional sale of processed and packaged foods, with products sold by volume to grocery retailers, foodservice operators, and distributors. Hormel reported net sales of $12.1 billion in fiscal year 2025 (ended October 26, 2025), down from $11.9 billion in fiscal year 2024. Gross profit was $1.9 billion in FY2025, representing 15.6% of net sales, compared to 17.0% in FY2024. Net earnings attributable to Hormel Foods fell 40.6% year-over-year to $478.2 million in FY2025. The company operates an International reporting unit with a goodwill balance of $258.9 million as of October 26, 2025, identified as having modest fair value in excess of carrying amount. Hormel is headquartered in Austin, Minnesota and is subject to oversight by the USDA, FDA, and other domestic and international regulatory bodies.

Revenue model

Hormel generates revenue through the transactional sale of branded and private-label food products by volume, primarily to retail grocery chains, foodservice operators, and international distributors. Total volume sold was approximately 4.19 billion pounds in FY2025, generating $12.1 billion in net sales.

Products and services

Hormel's product portfolio includes branded food items sold under trade names including Planters (nut snacks), Chi-Chi's (Mexican food), and Justin's (nut butters). The company also operates in pork processing and sells packaged meats. Impairment charges of $59.1 million were recognized on the Planters trade name and $2.9 million on Chi-Chi's in FY2025. The Justin's trade name was identified as at heightened impairment risk as of October 26, 2025. The company sold its Mountain Prairie sow operation and Hormel Health Labs business during FY2025 and FY2024 respectively as non-core divestitures.

Customers and end markets

Hormel sells to retail grocery, foodservice, and international end markets. Key raw material inputs include pork, beef, and nuts. The company's filing notes beef and nut costs are expected to remain above historical averages in fiscal 2026, while pork costs are anticipated to be lower than FY2025 levels but still elevated versus long-term averages. No single customer concentration percentage is disclosed in the available excerpts.

Value-chain role

Hormel operates as a vertically integrated food manufacturer, with involvement in procurement of raw materials, processing and manufacturing, packaging, and distribution. The company's Transform and Modernize initiative, begun in the second half of fiscal 2023, targets cost savings through procurement, production, and logistics improvements, with a stated goal of contributing operating profit growth through fiscal 2026. In the fourth quarter of FY2025, the company commenced a separate corporate restructuring plan.

Geographic exposure

Hormel operates domestically in the United States and internationally. The International segment carries goodwill of $258.9 million as of October 26, 2025. The filing does not provide a specific revenue breakdown by geography in the available excerpts.

Source: SEC 10-K, filed 2025-12-05

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