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Below are the financial statements of Hormel Foods, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
Below are the financial statements of Hormel Foods, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net sales | 11,920.8a | 12,110.01a | 12,458.81a |
| Cost of products sold | -9,898.66a | -10,110.17a | -10,294.12a |
| Gross profit | 2,022.14a | 1,999.84a | 2,164.69a |
| Selling, general, and administrative | -1,005.29a | -942.17a | -879.27a |
| Equity in earnings of affiliates | 51.09a | 42.75a | 27.19a |
| Goodwill and intangible impairment | 0a | -28.38a | 0a |
| Operating income | 1,067.93a | 1,072.05a | 1,312.61a |
| Interest and investment income | 48.4a | 14.83a | 28.01a |
| Interest expense | -80.89a | -73.4a | -62.52a |
| Earnings before income taxes | 1,035.43a | 1,013.47a | 1,278.1a |
| Provision for income taxes | -230.8a | -220.55a | -277.88a |
| Net earnings | 804.63a | 792.92a | 1,000.23a |
| Less: Net earnings (loss) attributable to noncontrolling interest | -0.41a | -0.65a | 0.24a |
| Net earnings attributable to Hormel Foods Corporation | 805.04a | 793.57a | 999.99a |
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