Hormel Foods (HRL) FY2024 results: revenue $11.9 billion, down 1.6% on the year
Hormel Foods Corp. (HRL) reported revenue of $11.9 billion for fiscal 2024, the year ended 27 October 2024, down 1.6% on the year before. Net income was $805 million, up 1.4%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 5 December 2024.
Revenue
$11.9 billion
-1.6% on the year
FY2017FY2024
Operating margin
9.0%
8.9% a year earlier
FY2017FY2024
Net income
$805 million
+1.4% on the year
FY2017FY2024
Diluted EPS
$1.47
+1.4% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,267
1,048
1,135
+20.9%
Capital expenditure
256
270
279
-5.1%
Free cash flow
1,010
778
856
+29.9%
Free cash flow margin
8.5%
6.4%
6.9%
Cash from investing
-237
-690
-258
Cash from financing
-1,030
-600
-487
Depreciation and amortisation
258
253
236
+1.8%
Share-based compensation
23.2
24.1
24.9
-3.5%
Buybacks
0.0
12.3
0.0
Dividends paid
615
593
558
+3.7%
Dividend per share
$1.13
$1.10
$1.04
+2.7%
Diluted shares, weighted
549m
549m
550m
-0.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
7,993
7,735
7,535
+3.3%
Non-controlling interest
10.6
4.1
4.9
+158.3%
Debt
2,859
3,309
3,299
-13.6%
Operating lease liabilities
121
109
55.6
+11.0%
Finance lease liabilities
20.2
27.5
36.1
-26.7%
Other liabilities
2,431
2,264
2,376
+7.4%
Total liabilities and equity
13,435
13,449
13,307
-0.1%
Goodwill
4,923
4,928
4,926
-0.1%
Intangible assets
1,733
1,757
1,803
-1.4%
Investments
24.7
16.7
16.1
+48.5%
Cash and equivalents
742
737
982
+0.7%
Receivables
818
817
868
+0.1%
Inventory
1,576
1,680
1,716
-6.2%
Other assets
3,618
3,512
2,996
+3.0%
Total assets
13,435
13,449
13,307
-0.1%
10-K for the year ended 27 October 2024, filed 5 December 2024: the filing.