Hormel Foods Corporation
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Hormel Foods Corporation (HRL). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Retail | – | $7.42B 65.1% | $7.99B 64.1% · +7.7% | $7.75B 64.0% · -3.0% | $7.37B 61.9% · -4.8% | $7.46B 61.6% · +1.1% |
| Foodservice | – | $3.13B 27.5% | $3.69B 29.6% · +17.9% | $3.64B 30.1% · -1.4% | $3.85B 32.3% · +5.6% | $3.94B 32.6% · +2.5% |
| International | – | $837.9M 7.4% | $779.8M 6.3% · -6.9% | $721.5M 6.0% · -7.5% | $701.5M 5.9% · -2.8% | $709.1M 5.9% · +1.1% |
| Grocery Products | $2.39B 24.8% | – | – | – | – | – |
| Refrigerated Foods | $5.27B 54.9% | – | – | – | – | – |
| Jennie-O Turkey Store | $1.33B 13.9% | – | – | – | – | – |
| International & Other | $618.7M 6.4% | – | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Retail | – | $690.1M 9.3% | $721.8M 9.0% | – | – | – |
| Foodservice | – | $432.0M 13.8% | $547.7M 14.8% | – | – | – |
| International | – | $116.6M 13.9% | $107.6M 13.8% | – | – | – |
| Grocery Products | – | – | – | – | – | – |
| Refrigerated Foods | – | – | – | – | – | – |
| Jennie-O Turkey Store | – | – | – | – | – | – |
| International & Other | – | – | – | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| U.S. | $9.01B 93.7% | $10.65B 93.6% · +18.3% | $11.78B 94.5% · +10.5% | $11.52B 95.1% · -2.2% | $11.28B 94.7% · -2.0% | $11.44B 94.5% · +1.4% |
| Foreign | $602.5M 6.3% | $733.1M 6.4% · +21.7% | $681.9M 5.5% · -7.0% | $594.9M 4.9% · -12.8% | $636.8M 5.3% · +7.0% | $669.1M 5.5% · +5.1% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Perishable | $5.33B 55.5% | $8.44B 74.1% · +58.3% | $8.74B 70.1% · +3.6% | $8.51B 70.3% · -2.6% | $8.55B 71.7% · +0.4% | $8.82B 72.9% · +3.2% |
| Shelf-stable | $2.09B 21.8% | $2.95B 25.9% · +40.9% | $3.72B 29.9% · +26.2% | $3.60B 29.7% · -3.3% | $3.37B 28.3% · -6.3% | $3.28B 27.1% · -2.6% |
| Poultry | $1.89B 19.6% | – | – | – | – | – |
| Miscellaneous | $300.8M 3.1% | – | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 10, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.