$HRL
HORMEL FOODS CORP /DE/

2014 Q2 Form 10-Q Financial Statement

#000110465914044370 Filed on June 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q4
Revenue $2.245B $2.243B $2.323B
YoY Change 4.28% 5.97% 7.05%
Cost Of Revenue $1.866B $1.844B $1.938B
YoY Change 3.68% 4.06% 6.56%
Gross Profit $378.8M $398.6M $385.5M
YoY Change 7.36% 15.82% 9.59%
Gross Profit Margin 16.87% 17.78% 16.59%
Selling, General & Admin $165.8M $166.2M $147.4M
YoY Change -4.21% 6.65% -7.7%
% of Gross Profit 43.77% 41.69% 38.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.90M $29.43M $31.90M
YoY Change 1.92% 6.41% 3.24%
% of Gross Profit 8.42% 7.38% 8.27%
Operating Expenses $165.8M $166.2M $147.4M
YoY Change -4.21% 6.65% -7.7%
Operating Profit $223.1M $232.5M $238.1M
YoY Change 14.08% 23.41% 23.97%
Interest Expense $3.093M $3.094M $1.500M
YoY Change -1.56% 0.0% -82.76%
% of Operating Profit 1.39% 1.33% 0.63%
Other Income/Expense, Net -$306.0K $1.173M
YoY Change -127.42% -35.19%
Pretax Income $213.2M $235.3M $239.6M
YoY Change 15.28% 19.47% 19.38%
Income Tax $72.45M $80.81M $81.10M
% Of Pretax Income 33.99% 34.35% 33.85%
Net Earnings $140.1M $153.3M $157.3M
YoY Change 11.61% 18.22% 18.66%
Net Earnings / Revenue 6.24% 6.84% 6.77%
Basic Earnings Per Share $0.53 $0.58 $0.60
Diluted Earnings Per Share $0.52 $0.57 $0.58
COMMON SHARES
Basic Shares Outstanding 263.9M shares 263.8M shares
Diluted Shares Outstanding 270.4M shares 270.2M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $499.3M $639.8M $434.0M
YoY Change 90.06% -27.93% -42.88%
Cash & Equivalents $499.3M $639.8M $434.0M
Short-Term Investments $0.00
Other Short-Term Assets $5.975M $10.03M $7.379M
YoY Change -24.56% 21.3% 32.84%
Inventory $1.054B $924.5M $968.0M
Prepaid Expenses $12.29M $13.89M $13.00M
Receivables $515.2M $505.0M $551.5M
Other Receivables $14.60M $0.00 $0.00
Total Short-Term Assets $2.173B $2.167B $2.047B
YoY Change 18.57% -9.71% -11.78%
LONG-TERM ASSETS
Property, Plant & Equipment $976.2M $967.5M $955.3M
YoY Change 1.93% 5.6% 3.34%
Goodwill $962.2M $962.1M $934.5M
YoY Change 3.23% 52.5% 48.12%
Intangibles $376.1M $378.4M $378.1M
YoY Change -1.77% 213.0% 207.21%
Long-Term Investments $267.7M $258.1M $270.6M
YoY Change -5.74% -8.12% -5.55%
Other Assets $142.7M $144.4M $142.3M
YoY Change 1.3% 8.69% 6.2%
Total Long-Term Assets $2.913B $2.900B $2.868B
YoY Change 2.75% 30.47% 27.87%
TOTAL ASSETS
Total Short-Term Assets $2.173B $2.167B $2.047B
Total Long-Term Assets $2.913B $2.900B $2.868B
Total Assets $5.086B $5.067B $4.916B
YoY Change 8.96% 9.61% 7.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $339.4M $354.8M $387.3M
YoY Change 7.72% 9.39% 0.36%
Accrued Expenses $43.39M $45.76M $20.97M
YoY Change 1.2% -21.15% -57.89%
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 $752.0M $824.5M $784.0M
YoY Change 6.23% 11.82% -0.29%
LONG-TERM LIABILITIES
Long-Term Debt $250.0M $250.0M $250.0M
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $85.21M $84.77M $84.06M
YoY Change 7.23% -4.2% -3.72%
Total Long-Term Liabilities $335.2M $334.8M $334.1M
YoY Change 1.74% -1.1% -0.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $752.0M $824.5M $784.0M
Total Long-Term Liabilities $335.2M $334.8M $334.1M
Total Liabilities $1.087B $1.159B $1.118B
YoY Change 4.81% 7.75% -0.49%
SHAREHOLDERS EQUITY
Retained Earnings $3.640B $3.553B $3.453B
YoY Change 10.3% 10.34% 10.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.506B $3.418B $3.311B
YoY Change
Total Liabilities & Shareholders Equity $5.086B $5.067B $4.916B
YoY Change 8.96% 9.61% 7.71%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $140.1M $153.3M $157.3M
YoY Change 11.61% 18.22% 18.66%
Depreciation, Depletion And Amortization $31.90M $29.43M $31.90M
YoY Change 1.92% 6.41% 3.24%
Cash From Operating Activities -$39.30M $314.3M $209.0M
YoY Change -133.94% 121.65% -10.57%
INVESTING ACTIVITIES
Capital Expenditures -$40.10M $37.04M -$38.10M
YoY Change 71.37% 67.95% -0.78%
Acquisitions
YoY Change
Other Investing Activities -$2.300M -$33.10M $1.800M
YoY Change -99.66% -137.44% -60.0%
Cash From Investing Activities -$42.30M -$70.10M -$36.20M
YoY Change -93.94% -205.73% 6.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.80M -37.30M -68.60M
YoY Change 40.38% 1143.33% 35.04%
NET CHANGE
Cash From Operating Activities -39.30M 314.3M 209.0M
Cash From Investing Activities -42.30M -70.10M -36.20M
Cash From Financing Activities -59.80M -37.30M -68.60M
Net Change In Cash -141.4M 206.9M 104.2M
YoY Change -77.37% 0.88% -30.07%
FREE CASH FLOW
Cash From Operating Activities -$39.30M $314.3M $209.0M
Capital Expenditures -$40.10M $37.04M -$38.10M
Free Cash Flow $800.0K $277.3M $247.1M
YoY Change -99.43% 131.54% -9.19%

Facts In Submission

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