Hormel Foods Lifts Q1 Profit Outlook, Sells Turkey Business

Hormel Foods expects to report earnings of 33 cents per share for the first quarter, up from 31 cents a year ago. On an adjusted basis, the company projects earnings of 34 cents per share, surpassing the 32 cents expected by analysts polled by FactSet. Preliminary sales reached approximately $3 billion, representing a 1.3% increase, though falling slightly behind the $3.07 billion market consensus.

Interim Chief Executive Jeff Ettinger described the performance as a solid start to the year that aligns with internal expectations. Ettinger noted that the preliminary figures provide confidence in the company’s current initiatives to drive profitability. The food processor is scheduled to release its full quarterly results on Feb. 26.

Portfolio Optimization and Outlook

As part of its strategic realignment, Hormel entered a definitive agreement to sell its whole-bird turkey business to Life-Science Innovations. The transaction, expected to close by the end of the fiscal second quarter, is estimated to have a minimal impact on the company’s 2026 financial performance.

Management also reaffirmed its full-year guidance for fiscal 2026. The company continues to target organic net sales growth between 1% and 4%, with adjusted earnings per share forecasted in the range of $1.43 to $1.51.