$HRL
HORMEL FOODS CORP /DE/

2014 Q1 Form 10-Q Financial Statement

#000110465914017341 Filed on March 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $2.243B $2.323B $2.116B
YoY Change 5.97% 7.05% 3.77%
Cost Of Revenue $1.844B $1.938B $1.772B
YoY Change 4.06% 6.56% 4.11%
Gross Profit $398.6M $385.5M $344.2M
YoY Change 15.82% 9.59% 2.01%
Gross Profit Margin 17.78% 16.59% 16.26%
Selling, General & Admin $166.2M $147.4M $155.8M
YoY Change 6.65% -7.7% 2.2%
% of Gross Profit 41.69% 38.23% 45.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.43M $31.90M $27.66M
YoY Change 6.41% 3.24% -2.59%
% of Gross Profit 7.38% 8.27% 8.03%
Operating Expenses $166.2M $147.4M $155.8M
YoY Change 6.65% -7.7% 2.2%
Operating Profit $232.5M $238.1M $188.4M
YoY Change 23.41% 23.97% 1.85%
Interest Expense $3.094M $1.500M $3.094M
YoY Change 0.0% -82.76% -3.73%
% of Operating Profit 1.33% 0.63% 1.64%
Other Income/Expense, Net $1.173M $1.810M
YoY Change -35.19% 13.84%
Pretax Income $235.3M $239.6M $196.9M
YoY Change 19.47% 19.38% 1.34%
Income Tax $80.81M $81.10M $65.88M
% Of Pretax Income 34.35% 33.85% 33.45%
Net Earnings $153.3M $157.3M $129.7M
YoY Change 18.22% 18.66% 1.03%
Net Earnings / Revenue 6.84% 6.77% 6.13%
Basic Earnings Per Share $0.58 $0.60 $0.49
Diluted Earnings Per Share $0.57 $0.58 $0.48
COMMON SHARES
Basic Shares Outstanding 263.8M shares 263.9M shares
Diluted Shares Outstanding 270.2M shares 269.1M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $639.8M $434.0M $887.7M
YoY Change -27.93% -42.88% 42.03%
Cash & Equivalents $639.8M $434.0M $887.7M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $10.03M $7.379M $8.272M
YoY Change 21.3% 32.84% -90.95%
Inventory $924.5M $968.0M $953.7M
Prepaid Expenses $13.89M $13.00M $13.28M
Receivables $505.0M $551.5M $466.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.167B $2.047B $2.400B
YoY Change -9.71% -11.78% 18.7%
LONG-TERM ASSETS
Property, Plant & Equipment $967.5M $955.3M $916.2M
YoY Change 5.6% 3.34% 0.87%
Goodwill $962.1M $934.5M $630.9M
YoY Change 52.5% 48.12%
Intangibles $378.4M $378.1M $120.9M
YoY Change 213.0% 207.21%
Long-Term Investments $258.1M $270.6M $280.9M
YoY Change -8.12% -5.55% -4.1%
Other Assets $144.4M $142.3M $132.9M
YoY Change 8.69% 6.2% -53.69%
Total Long-Term Assets $2.900B $2.868B $2.223B
YoY Change 30.47% 27.87% -1.14%
TOTAL ASSETS
Total Short-Term Assets $2.167B $2.047B $2.400B
Total Long-Term Assets $2.900B $2.868B $2.223B
Total Assets $5.067B $4.916B $4.623B
YoY Change 9.61% 7.71% 8.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $354.8M $387.3M $324.4M
YoY Change 9.39% 0.36% 5.08%
Accrued Expenses $45.76M $20.97M $58.03M
YoY Change -21.15% -57.89% -84.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $824.5M $784.0M $737.4M
YoY Change 11.82% -0.29% 1.76%
LONG-TERM LIABILITIES
Long-Term Debt $250.0M $250.0M $250.0M
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $84.77M $84.06M $88.48M
YoY Change -4.2% -3.72% -84.1%
Total Long-Term Liabilities $334.8M $334.1M $338.5M
YoY Change -1.1% -0.96% -58.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $824.5M $784.0M $737.4M
Total Long-Term Liabilities $334.8M $334.1M $338.5M
Total Liabilities $1.159B $1.118B $1.076B
YoY Change 7.75% -0.49% -29.93%
SHAREHOLDERS EQUITY
Retained Earnings $3.553B $3.453B $3.220B
YoY Change 10.34% 10.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.418B $3.311B $2.927B
YoY Change
Total Liabilities & Shareholders Equity $5.067B $4.916B $4.623B
YoY Change 9.61% 7.71% 8.26%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $153.3M $157.3M $129.7M
YoY Change 18.22% 18.66% 1.03%
Depreciation, Depletion And Amortization $29.43M $31.90M $27.66M
YoY Change 6.41% 3.24% -2.59%
Cash From Operating Activities $314.3M $209.0M $141.8M
YoY Change 121.65% -10.57% -6.83%
INVESTING ACTIVITIES
Capital Expenditures $37.04M -$38.10M $22.05M
YoY Change 67.95% -0.78% -27.6%
Acquisitions
YoY Change
Other Investing Activities -$33.10M $1.800M $88.40M
YoY Change -137.44% -60.0% 4552.63%
Cash From Investing Activities -$70.10M -$36.20M $66.30M
YoY Change -205.73% 6.78% -331.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.30M -68.60M -3.000M
YoY Change 1143.33% 35.04% -92.29%
NET CHANGE
Cash From Operating Activities 314.3M 209.0M 141.8M
Cash From Investing Activities -70.10M -36.20M 66.30M
Cash From Financing Activities -37.30M -68.60M -3.000M
Net Change In Cash 206.9M 104.2M 205.1M
YoY Change 0.88% -30.07% 142.15%
FREE CASH FLOW
Cash From Operating Activities $314.3M $209.0M $141.8M
Capital Expenditures $37.04M -$38.10M $22.05M
Free Cash Flow $277.3M $247.1M $119.7M
YoY Change 131.54% -9.19% -1.64%

Facts In Submission

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