Hormel Foods
26 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
Walmart Inc.
earns from · 15.6 percent of consolidated gross sales less returns and allowancesnamed as a riskSales to the Company’s largest customer, Walmart Inc. and its subsidiaries (Walmart), accounted for 15.6 percent of consolidated gross sales less returns and allowances during fiscal 2025.Business (Item 1)
Also named by CAG, CALM, CHD, CL, CPB, GIS, HAS, HSY and 9 more
Partners and platforms
The Purefoods-Hormel Company, Inc.
40 percent holdingThe Company also has minority interests in food companies in the Philippines (The Purefoods-Hormel Company, Inc., 40 percent holding) and Indonesia (PT Garudafood Putra Putri Jaya Tbk (Garudafood), approximately 30 percent holding).Business (Item 1)
MegaMex Foods, LLC
This segment also includes the results from the Company’s MegaMex Foods, LLC (MegaMex Foods) joint venture.Business (Item 1)
Other companies
PT Garudafood Putra Putri Jaya Tbk (Garudafood)
$163.7 million impairment chargenamed as a riskAs a result, the Company recognized a $163.7 million impairment charge to reduce the investment's carrying amount to estimated fair value.Risk factors (Item 1A)
Planters
$59.1 millionnamed as a riskSeparately, impairments were recognized on the Planters® and Chi-Chi's® trade names for $59.1 million and $2.9 million, respectively.Risk factors (Item 1A)
Places
China
operates in · $0.8 billionnamed as a riskThe Company’s net asset position in foreign currencies was $0.8 billion as of October 26, 2025, and $1.2 billion as of October 27, 2024, with most of the exposure existing in Chinese yuan, Indonesian rupiah, and Philippine peso.Market risk (Item 7A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Philippines
operates in · $0.8 billionnamed as a riskThe Company’s net asset position in foreign currencies was $0.8 billion as of October 26, 2025, and $1.2 billion as of October 27, 2024, with most of the exposure existing in Chinese yuan, Indonesian rupiah, and Philippine peso.Market risk (Item 7A)
Also named by ACN, ADI, AEHR, COF, FDS, INTU, LITE, MCHP and 5 more
Indonesia
operates in · $0.8 billionnamed as a riskThe Company’s net asset position in foreign currencies was $0.8 billion as of October 26, 2025, and $1.2 billion as of October 27, 2024, with most of the exposure existing in Chinese yuan, Indonesian rupiah, and Philippine peso.Market risk (Item 7A)
Little Rock, Arkansas
operates innamed as a riskFor example, in the fourth quarter of fiscal 2025 a fire occurred at the Company’s Little Rock, Arkansas, peanut butter production facility, which negatively impacted production at the facility.Risk factors (Item 1A)
Also named by TREX
Austin, Minnesota
concentrated innamed as a riskA significant disruption in the operation of the Company’s manufacturing, supply, or distribution capabilities, whether Company-owned or supported by third parties, could have a negative impact on the Company’s ability to operate its business, particularly if such a disruption were to occur at a facility that supports a meaningful amount of the Company’s production, such as its Austin, Minnesota manufacturing facility.Risk factors (Item 1A)
Hazards
African swine fever (ASF)
named as a riskIf an outbreak of ASF were to occur in the U.S., the Company’s supply of hogs and pork could be significantly impacted.Risk factors (Item 1A)
Highly Pathogenic Avian Influenza (HPAI)
named as a riskFurthermore, HPAI was detected within the Company’s turkey supply chain during fiscal 2024 and fiscal 2025.Risk factors (Item 1A)
Listeria monocytogenes
named as a riskIn addition, during the third quarter of fiscal 2024, the Company voluntarily recalled a limited number of Planters® products due to the potential for contamination of the product with Listeria monocytogenes.Risk factors (Item 1A)
Also named by TSN
Commodities and inputs
Lean hogs
exposed to its price · $29.3 millionnamed as a riskThe Company is subject to commodity price risk through grain, lean hog, natural gas, and diesel fuel markets.Market risk (Item 7A)
Also named by TSN
Natural gas
exposed to its pricenamed as a riskThe Company is subject to commodity price risk through grain, lean hog, natural gas, and diesel fuel markets.Market risk (Item 7A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Diesel fuel
exposed to its pricenamed as a riskThe Company is subject to commodity price risk through grain, lean hog, natural gas, and diesel fuel markets.Market risk (Item 7A)
Also named by ADM, BLDR, BTU, CAH, CHD, CHRW, COST, CP and 43 more
Pork
exposed to its pricenamed as a riskThe Company’s results of operations and financial condition are largely dependent upon the cost and supply of pork, poultry, beef, feed grains, nuts, energy, and other inputs, as well as the selling prices for many of the Company’s products, which are determined by dynamic market forces of supply and demand.Risk factors (Item 1A)
Feed grains
exposed to its pricenamed as a riskResults in these operations are affected by the cost and supply of feed grains, which fluctuate due to climate conditions, production forecasts, and supply and demand conditions at local, regional, national, and worldwide markets.Risk factors (Item 1A)
Cashews
depends onnamed as a riskCertain raw materials, such as cashews, are sourced internationally, which may cause additional risks to pricing and availability.Business (Item 1)
Nuts, tomatoes and avocados
exposed to its pricenamed as a riskThe Company may be subject to decreased availability or less favorable pricing for nuts, tomatoes, avocados, or other produce if poor growing conditions have a negative effect on agricultural productivity.Risk factors (Item 1A)
Regulators
U.S. Food and Drug Administration (FDA)
subject tonamed as a riskThe Company’s operations, and those of its suppliers, are subject to extensive regulation in the U.S. and abroad, by the U.S. Department of Agriculture, the U.S. Food and Drug Administration, the U.S. Department of Homeland Security, international, federal, and state taxing authorities, and other international, federal, state, and local authorities, including those that oversee workforce mobility, taxation, animal welfare, food safety, and the processing, packaging, storage, distribution, advertising, and labeling of the Company’s products.Risk factors (Item 1A)
Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more
U.S. Department of Agriculture (USDA)
subject tonamed as a riskThe Company’s operations, and those of its suppliers, are subject to extensive regulation in the U.S. and abroad, by the U.S. Department of Agriculture, the U.S. Food and Drug Administration, the U.S. Department of Homeland Security, international, federal, and state taxing authorities, and other international, federal, state, and local authorities, including those that oversee workforce mobility, taxation, animal welfare, food safety, and the processing, packaging, storage, distribution, advertising, and labeling of the Company’s products.Risk factors (Item 1A)
Also named by AGM, BJ, CAG, CALM, CASH, CB, DLTR, FLO and 11 more
Laws and programs
U.S. tariffs
subject tonamed as a riskIn particular, recent U.S. tariffs imposed or threatened to be imposed on a variety of countries, and any retaliatory actions taken by such countries, could result in the Company incurring additional costs to procure key inputs.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
Extended producer responsibility laws
subject tonamed as a riskFor example, multiple states in the U.S. have implemented, or are considering implementing, extended producer responsibility laws that will require the Company to enact policies and processes and will increase expenses, including through fees paid to state governments in connection with such laws.Risk factors (Item 1A)
Pork harvest line speed waivers
subject tonamed as a riskIn addition, pork harvest facilities that the Company relies upon in its supply chain are currently relying on government-issued waivers to regulations that otherwise limit maximum production line speeds.Risk factors (Item 1A)