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Hormel Foods Corporation (HRL) Q1 2026 Earnings Call Transcript

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⚡ Quantum Brief
Hormel Foods reported Q1 2026 earnings on February 26, with interim CEO Jeffrey Ettinger and CFO Paul Kuehneman leading the call, highlighting financial performance and outlook. Net sales declined 3% year-over-year due to lower volumes in key segments, though pricing actions partially offset inflation pressures, reflecting ongoing consumer demand challenges. Operating margins improved slightly to 10.2%, driven by cost-saving initiatives and efficiency gains in supply chain operations despite rising input costs. Management emphasized strategic investments in plant-based proteins and international expansion, aiming to diversify revenue streams amid shifting market dynamics. Analysts questioned growth strategies, with leadership reaffirming 2026 guidance while acknowledging macroeconomic uncertainties impacting the food sector.
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SA Transcripts158.65K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Hormel Foods Corporation (HRL) Q1 2026 Earnings Call February 26, 2026 8:00 AM EST Company Participants Florence Makope - VP & TreasurerJeffrey Ettinger - Interim CEO & DirectorJohn Ghingo - President & DirectorPaul Kuehneman - Interim CFO & Controller Conference Call Participants Thomas Palmer - JPMorgan Chase & Co, Research DivisionLeah Jordan - Goldman Sachs Group, Inc., Research DivisionRyan Edward Lavin - Barclays Bank PLC, Research DivisionHeather Jones - Heather Jones Research LLCChristopher Downing - BofA Securities, Research DivisionRupesh Parikh - Oppenheimer & Co. Inc., Research DivisionPooran Sharma - Stephens Inc., Research Division Presentation Operator Good morning, ladies and gentlemen, and welcome to the Hormel Foods Corporation First Quarter Earnings Conference Call. [Operator Instructions] This call is being recorded on Thursday, February 26, 2026. I would now like to hand the conference over to Florence Makope. Florence MakopeVP & Treasurer Good morning. Welcome to the Hormel Foods conference call for the first quarter of fiscal 2026. We released results this morning before the market opened. If you did not receive a copy of the release, you can find it on our website, hormelfoods.com under the Investors section, along with supplemental slide materials. On our call today is Jeff Ettinger, Interim Chief Executive Officer; John Ghingo, President; and Paul Kuehneman, Interim Chief Financial Officer and Controller. Jeff, John and Paul will review the company's fiscal 2026 first quarter results and provide a perspective on the remainder of the year. We will conclude with the Q&A portion of the call. [Operator Instructions] At the conclusion of this morning's call, a webcast replay will be posted to the Investors section of our website and archived for 1 year. Before we get started this morning, I'd like to reference our safe harbor statement. Some of the comments we make today will be forward-looking, and

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