Analyst Consensus ?
ConsensusHold29 ratings
Bullish517.3%
Neutral1758.6%
Bearish724.1%
Hormel Foods Corporation · HRL · FY2024 Q4 · Calendar Q4 2024
Hormel Reaffirms FY2025 Guidance as Efficiency Benefits Build
The call supports a cautiously constructive operating thesis: Hormel’s efficiency program, brand investment, foodservice expansion, and international recovery provide identifiable growth levers, but near-term supply and commodity headwinds and dependence on continued execution leave the durability of earnings growth unproven.
Reported Before market openNYSEConsumer Defensive
$11.23B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.43
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $3.15B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.5%
Event window
SPY move
+0.6%
Same window
Abnormal move
-0.1%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
-2.0%
Up to 20 sessions
HRLSPY benchmark
Ask FN2 about HRL FY2024 Q4
Transcript, numbers and history already loaded
What drove HRL's +0.5% move after FY2024 Q4 earnings?What changed in HRL's guidance and outlook in FY2024 Q4?Give me the bull and bear case for HRL after FY2024 Q4 earnings.
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Transcript intelligence
What changed
Management emphasized a stronger FY2025 execution plan: Transform & Modernize benefits are expected to accelerate, advertising spending is planned to rise by double digits, capex is targeted at $275–300 million, and portfolio optimization continues. The main offsets are Q1 turkey-price pressure and the Planters disruption.
Guidance delta
Maintained: FY2025 guidance was reaffirmed, with low-single-digit to high-single-digit growth expected across Retail, Foodservice, and International.
Key takeaways
- Transform & Modernize generated $75 million of operating-income benefit in FY2024, with $100–150 million expected in FY2025.
- FY2024 operating cash flow reached a record $1.3 billion, while near-term Q1 pressure is expected from turkey pricing and Planters supply issues.
- Portfolio optimization, advertising investment, innovation, and international recovery are central to the growth framework.
Management priorities
- Accelerate Transform & Modernize benefits.
- Increase advertising investment and continue product innovation.
- Advance portfolio optimization and SKU rationalization.
- Build value-added capacity, including the planned Memphis distribution center.
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Beat
Miss
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Analyst 52W Price Targets
$20.35Current
$23Low
$31.2Average
$54High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Oct 14, 2026 |
| BNP Paribas | Neutral | Neutral | Maintain | Oct 7, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 14, 2026 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Jul 9, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Jun 30, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Dec 5, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 30, 2025 |
| Citigroup | Buy | Buy | Maintain | Nov 19, 2024 |
| Argus Research | Hold | Buy | Downgrade | Mar 30, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Mar 3, 2023 |
| Seaport Global | Neutral | Neutral | Maintain | Sep 8, 2020 |
| CFRA | Hold | Hold | Maintain | May 21, 2020 |
| Bank of America | Underperform | Underperform | Maintain | Oct 25, 2019 |
| Buckingham Research | Neutral | Neutral | Maintain | May 24, 2019 |
| Jefferies | Hold | Buy | Downgrade | Nov 27, 2018 |
| Vertical Research | Sell | Hold | Downgrade | Nov 6, 2018 |
| Vertical Group | Sell | Hold | Downgrade | Nov 6, 2018 |
| BMO Capital | Market Perform | Outperform | Downgrade | Sep 17, 2018 |
| Buckingham | Neutral | Neutral | Maintain | Aug 16, 2018 |
| Mizuho | Underperform | Neutral | Downgrade | Jul 25, 2018 |
| Morgan Stanley | Underweight | Underweight | Maintain | Nov 3, 2017 |
| KeyBanc | Equal Weight | Sector Weight | Maintain | Dec 2, 2016 |
| Oppenheimer | Perform | Perform | Maintain | Sep 16, 2016 |
| Edward Jones | Buy | Hold | Upgrade | Sep 16, 2016 |
| BB&T Capital | Underweight | Hold | Downgrade | Apr 5, 2016 |
| CLSA | Underperform | Outperform | Downgrade | Feb 18, 2016 |
| Deutsche Bank | Hold | Hold | Maintain | Feb 17, 2016 |
| DA Davidson | Neutral | Neutral | Maintain | Nov 26, 2013 |
| Davenport | Buy | Neutral | Upgrade | Jul 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $20.35. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Benjamin Theurer | $28 | $19.21 | +37.6% | Oct 14, 2026 |
| BNP Paribas | Max Gumport | $23 | $19.8 | +13.0% | Oct 7, 2026 |
| Stephens | Analyst unavailable | $23 | $21.28 | +13.0% | Aug 28, 2026 |
| Coker Palmer | Thomas Palmer | $26 | $24.44 | +27.8% | Aug 14, 2026 |
| Goldman Sachs | Analyst unavailable | $25 | $20.76 | +22.9% | May 21, 2026 |
| Stephens | Analyst unavailable | $22 | $20.76 | +8.1% | May 21, 2026 |
| Stephens | Analyst unavailable | $25 | $24.3 | +22.9% | Feb 11, 2026 |
| Barclays | Analyst unavailable | $30 | $23.85 | +47.4% | Dec 9, 2025 |
| Piper Sandler | Michael Lavery | $26 | $24.16 | +27.8% | Dec 5, 2025 |
| Coker Palmer | Thomas Palmer | $28 | $24.16 | +37.6% | Dec 4, 2025 |
| Goldman Sachs | Analyst unavailable | $27 | $21.49 | +32.7% | Oct 30, 2025 |
| Barclays | Benjamin Theurer | $34 | $25.69 | +67.1% | Aug 29, 2025 |
| Goldman Sachs | Analyst unavailable | $35 | $30.85 | +72.0% | Jun 23, 2025 |
| Piper Sandler | Michael Lavery | $33 | $32.53 | +62.2% | Dec 5, 2024 |
| BNP Paribas | Max Gumport | $28 | $32.19 | +37.6% | Oct 21, 2024 |
| Bank of America Securities | Peter Galbo | $30 | $31.01 | +47.4% | Sep 4, 2024 |
| Coker Palmer | Thomas Palmer | $37 | $31.25 | +81.8% | Aug 13, 2024 |
| Coker Palmer | Thomas Palmer | $29 | $30.79 | +42.5% | May 30, 2024 |
| Coker Palmer | Thomas Palmer | $35 | $35.47 | +72.0% | May 22, 2024 |
| Argus Research | Analyst unavailable | $54 | $45.55 | +165.4% | Dec 30, 2022 |
| J.P. Morgan | Analyst unavailable | $47 | $47.04 | +131.0% | Dec 1, 2022 |
| Argus Research | Analyst unavailable | $53 | $46.83 | +160.4% | Sep 22, 2022 |
| Stephens | Analyst unavailable | $55 | $50.72 | +170.3% | Aug 23, 2022 |
| Piper Sandler | Michael Lavery | $49 | $46 | +140.8% | Dec 10, 2021 |
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Start freeCompany context
Snapshot as of publicationHormel Foods Corporation is a prominent global food company that specializes in the creation, preparation, and supply of a diverse array of meat, nut, and other culinary items. Its extensive clientele spans retail outlets, institutional food providers (foodservice), specialty delis, and various commercial enterprises across the United States and internationally. The company's operations are strategically structured into four main divisions: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. Hormel's product portfolio is broad, encompassing numerous perishable goods such as fresh meats, frozen food selections, convenient refrigerated meal options, a variety of sausages, hams, guacamole, and bacon. Additionally, it offers a wide range of non-perishable items, including canned luncheon meats, various nut butters, snack nuts, chili, microwave-ready meals, hashes, stews, tortillas, salsas, and tortilla chips.…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-20T00:01:49.813283+00:00
- Polygon adjusted daily market bars · 2026-10-19T20:50:42.716991+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T20:50:42.714046+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.