Hormel Foods (HRL) FY2022 results: revenue $12.5 billion, up 9.4% on the year
Hormel Foods Corp. (HRL) reported revenue of $12.5 billion for fiscal 2022, the year ended 30 October 2022, up 9.4% on the year before. Net income was $1,000 million, up 10.0%, and diluted earnings per share $1.82. The figures are the company's own, from the 10-K it filed with the SEC on 6 December 2022.
Revenue
$12.5 billion
+9.4% on the year
FY2015FY2022
Operating margin
10.5%
9.9% a year earlier
FY2015FY2022
Net income
$1,000 million
+10.0% on the year
FY2015FY2022
Diluted EPS
$1.82
+9.6% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,135
1,002
1,128
+13.3%
Capital expenditure
279
232
368
+20.0%
Free cash flow
856
770
761
+11.2%
Free cash flow margin
6.9%
6.8%
7.9%
Cash from investing
-258
-3,626
-656
Cash from financing
-487
1,521
566
Depreciation and amortisation
236
209
206
+12.7%
Share-based compensation
24.9
24.7
22.5
+0.8%
Buybacks
0.0
20.0
12.4
Dividends paid
558
523
487
+6.6%
Dividend per share
$1.04
$0.98
$0.93
+6.1%
Diluted shares, weighted
550m
548m
547m
+0.4%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
7,535
6,973
6,426
+8.1%
Non-controlling interest
4.9
5.5
4.8
-9.9%
Debt
3,299
3,324
1,304
-0.7%
Operating lease liabilities
55.6
56.8
43.1
-2.1%
Finance lease liabilities
36.1
44.6
52.7
-19.2%
Other liabilities
2,376
2,293
2,078
+3.6%
Total liabilities and equity
13,307
12,696
9,908
+4.8%
Goodwill
4,926
4,929
2,613
-0.1%
Intangible assets
1,803
1,822
1,076
-1.1%
Investments
16.1
21.2
17.3
-23.7%
Cash and equivalents
982
614
1,714
+60.1%
Receivables
868
896
702
-3.1%
Inventory
1,716
1,369
1,073
+25.3%
Other assets
2,996
3,045
2,712
-1.6%
Total assets
13,307
12,696
9,908
+4.8%
10-K for the year ended 30 October 2022, filed 6 December 2022: the filing.