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SEGMENT REPORTING
 9 Months Ended
Jul. 26, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE O - SEGMENT REPORTING

Segment Results: The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following three segments: Retail, Foodservice, and International.

The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in retail channels, including grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers in the U.S. This segment also includes the results from the Company’s equity method investments in MegaMex Foods, LLC and Joy Topco, L.P.

The Foodservice segment consists primarily of the processing, marketing, and sale of food products to distributors and operators across a wide range of providers of food away from home, including restaurants, hospitality, healthcare, K-12, college and universities, and convenience stores in the U.S.

The International segment processes, markets, and sells the Company's products through retail and foodservice channels internationally. This segment also includes the results from the Company’s international joint ventures, equity method investments, and royalty arrangements, as well as operations in China and Brazil.

The results of each segment are regularly provided to the Company's Interim Chief Executive Officer, who is the chief operating decision maker (CODM). The CODM primarily uses net sales and segment profit to compare results to the prior year, annual operating plan, and periodic forecasts when evaluating segment performance and allocating resources.

The accounting policies of the segments are generally the same as those presented in Note A - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the fiscal year ended October 26, 2025. Intersegment sales are eliminated in consolidation and are not considered in management's assessment of segment performance. Segment profit also excludes unallocated general corporate expenses, deferred compensation, nonrecurring expenses associated with the Transform and Modernize initiative, corporate restructuring plan costs, gains and losses on divestitures, and interest and other income and expense. Equity in Earnings of Affiliates is included in segment profit; however, earnings attributable to the Company’s corporate venturing investments and noncontrolling interests are excluded.
Segment results, including the significant expense categories regularly provided to the CODM, are provided below. Certain portions of these expenses are retained at the corporate level and are presented in Net Unallocated Expense. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. The Company does not represent that these segments, if operated independently, would report the profit and other financial information shown.
Quarter Ended July 26, 2026
In thousandsRetailFoodserviceInternationalTotal
Net Sales$1,779,434 $1,003,158 $178,740 
Cost of Products Sold1,538,017 808,519 142,867 
Selling, General, and Administrative125,514 50,165 25,886 
Equity in Earnings of Affiliates2,171 — (39,275)
Noncontrolling Interest (Earnings) Loss— — 55 
Segment Profit$118,073 $144,475 $(29,233)$233,316 
Net Unallocated Expense130,104 
Noncontrolling Interest Earnings (Loss)(55)
Earnings Before Income Taxes$103,157 

Quarter Ended July 27, 2025
In thousandsRetailFoodserviceInternationalTotal
Net Sales$1,858,434 $986,976 $187,466 
Cost of Products Sold1,598,924 798,352 148,583 
Selling, General, and Administrative142,699 47,913 25,774 
Equity in Earnings of Affiliates5,755 — 5,787 
Noncontrolling Interest (Earnings) Loss— — 46 
Segment Profit$122,566 $140,711 $18,941 $282,218 
Net Unallocated Expense45,658 
Noncontrolling Interest Earnings (Loss)(46)
Earnings Before Income Taxes$236,514 

Nine Months Ended July 26, 2026
In thousandsRetailFoodserviceInternationalTotal
Net Sales$5,416,905 $2,998,096 $546,249 
Cost of Products Sold4,671,564 2,394,966 432,656 
Selling, General, and Administrative397,724 146,329 71,916 
Equity in Earnings of Affiliates22,287 — (26,046)
Noncontrolling Interest (Earnings) Loss— — 182 
Segment Profit$369,902 $456,800 $15,812 $842,515 
Net Unallocated Expense298,802 
Noncontrolling Interest Earnings (Loss)(182)
Earnings Before Income Taxes$543,531 

Nine Months Ended July 27, 2025
In thousandsRetailFoodserviceInternationalTotal
Net Sales$5,532,401 $2,853,603 $534,495 
Cost of Products Sold4,758,271 2,290,106 421,772 
Selling, General, and Administrative418,815 143,327 74,111 
Equity in Earnings of Affiliates23,531 — 19,216 
Noncontrolling Interest (Earnings) Loss— — 366 
Segment Profit$378,847 $420,170 $58,193 $857,210 
Net Unallocated Expense171,769 
Noncontrolling Interest Earnings (Loss)(366)
Earnings Before Income Taxes$685,076 
The Company’s CODM reviews assets and capital expenditures at a consolidated level and does not use assets by segment to evaluate performance or allocate resources. Therefore, the Company does not disclose these measures by segment. Depreciation and amortization expense is included in the measure of segment profit and disclosed below.
In thousandsQuarter EndedNine Months Ended
July 26, 2026July 27, 2025July 26, 2026July 27, 2025
Depreciation and Amortization
Retail$33,346 $35,098 $104,410 $106,263 
Foodservice22,134 19,776 63,939 59,255 
International4,623 4,457 14,126 12,983 
Corporate6,325 5,361 19,872 16,027 
Total Depreciation and Amortization$66,427 $64,692 $202,348 $194,527 

Disaggregated Revenues: The Company’s products primarily consist of meat and other food products. Total revenue contributed by classes of similar products are:
Quarter EndedNine Months Ended
In thousandsJuly 26, 2026July 27, 2025July 26, 2026July 27, 2025
Perishable$2,188,817 $2,222,646 $6,646,000 $6,450,709 
Shelf-stable772,516 810,230 2,315,249 2,469,790 
Total Net Sales$2,961,333 $3,032,876 $8,961,250 $8,920,499 

Perishable includes fresh meats, frozen items, refrigerated meal solutions, bacon, sausages, hams, guacamole, and other items that require refrigeration. Shelf-stable includes canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, and other items that do not require refrigeration.