Hormel Foods Corporation - HRL STOCK NEWS

Hormel Foods (NYSE: HRL) announced the retirement of Brian Johnson, vice president and corporate secretary, after a 30-year career with the company. Johnson, who serves as a key advisor to the company's Board of Directors, has been responsible for corporate governance, securities laws compliance, and financing matters. He also participates in the company's disclosure, compliance, and global impact committees.

Chairman, president and CEO Jim Snee praised Johnson's expertise, sound judgment, integrity, and dedication, highlighting his role as a trusted advisor to executives and the Board of Directors. Johnson and his wife Ann have been recognized for their contributions to the Austin, Minnesota community.

Hormel Foods (NYSE: HRL) and its joint-venture MegaMex Foods have committed over $2 million in disaster relief support for Southern California wildfire-affected communities. The company has donated more than 550,000 pounds of food products, equivalent to 460,000 meals, including ready-to-eat and shelf-stable products from brands like PLANTERS, SKIPPY, JUSTIN'S, and EMBASA.

The support package includes frozen and refrigerated products such as JENNIE-O OVEN READY turkeys, WHOLLY avocado minis, and COLUMBUS meats. The company's Foodservice division is supporting local restaurants providing free meals to first responders and displaced residents. Additionally, the Hormel Foods Charitable Trust and MegaMex Foods jointly donated $50,000 to the LA Unified School District Education Foundation's Emergency Relief Fund to assist affected students, faculty, and families.

Hormel Foods (NYSE: HRL) announced that Chairman, President and CEO James P. Snee will retire at the end of fiscal 2025 after 36 years with the company. A search committee has been formed to identify his successor, considering both internal and external candidates. After the succession, Snee will serve as a strategic advisor to the Board through fiscal 2025 and 18 months thereafter.

During Snee's eight-year tenure as CEO, the company expanded its protein-centric portfolio through key acquisitions including PLANTERS®, FONTANINI®, and CERATTI®. He led significant organizational changes including a new operating model and the Transform & Modernize growth initiative. Under his leadership, Hormel Foods maintained its dividend growth legacy, announcing its 59th consecutive annual dividend increase in November 2024.

The company's fiscal 2025 performance outlook remains unchanged.

PLANTERS® is accepting applications for three Peanutter positions, offering a unique full-time job opportunity from June 2025 to June 2026. The role involves traveling across the country in the iconic 26-foot-long NUTmobile as brand ambassadors, participating in parades, community events, and grand openings.

The position includes a competitive compensation package with travel expenses, health insurance, and meal stipends. Successful candidates must be college graduates with a bachelor's degree, preferably in communications, marketing, advertising, public relations, or related fields. Applications, including a resume and short video, must be submitted by February 14.

Previous Peanutters have participated in significant events, including tree lightings, professional football games, and national commercials. The role represents the fourth class of Peanutters for the brand, continuing its tradition of spreading brand awareness through unique promotional activities.

Hormel Foods (NYSE: HRL) has appointed Mike Clausman as vice president, deputy general counsel and assistant secretary. In this new role, Clausman will be responsible for overseeing legal support across various critical areas including brand and business growth initiatives, commercial transactions, mergers and acquisitions, and intellectual property. He will report to Colleen Batcheler, senior vice president external affairs & general counsel.

Hormel Foods (NYSE: HRL) reported its fiscal 2024 results with net sales of $11.9 billion and operating income of $1.1 billion. The company achieved record operating cash flow of $1.3 billion and delivered diluted earnings per share of $1.47 (adjusted $1.58).

For Q4 2024, the company reported net sales of $3.1 billion and operating income of $294 million. The Transform and Modernize (T&M) initiative generated $75 million in operating income benefits. The company announced a 3% dividend increase, marking its 59th consecutive year of dividend growth.

Looking ahead to fiscal 2025, Hormel expects net sales between $11.9-12.2 billion and adjusted diluted EPS of $1.58-1.72, with anticipated T&M benefits of $100-150 million.

Hormel Foods (NYSE: HRL) announced a 3% increase in its annual dividend, raising it from $1.13 to $1.16 per share. This marks the company's 59th consecutive annual dividend increase. The first quarterly dividend of $0.29 per share will be paid on February 18, 2025, to stockholders of record as of January 13, 2025. This represents the 386th consecutive quarterly dividend since becoming public in 1928. Hormel Foods, with approximately $12 billion in annual revenue across 80+ countries, continues its uninterrupted dividend payment history.

JENNIE-O has partnered with NBC's 'The Tonight Show Starring Jimmy Fallon' to donate 15,000 turkeys to Food Bank For New York City, bringing their total holiday turkey donations to over 30,000. The initiative included nine semi-trucks transporting turkeys from Minnesota to New York, along with 1,000 HORMEL CURE 81 Hams.

Additional donations include 2,000 turkeys in partnership with the Minnesota Wild and 3,500 turkeys during the Hometown Turkey Takeover in Austin, Minnesota. The brand will also participate in the Macy's Thanksgiving Day Parade for the fifth consecutive year, featuring T-Pain performing on their turkey float.

Jennie-O, a leading turkey brand in the United States, will showcase its Big Turkey Spectacular float in the 98th Macy's Thanksgiving Day Parade® for the fifth consecutive year. GRAMMY winner T-Pain will perform a mashup of his #1 hits on the float. The spectacular 36-foot-long float features over 200 pounds of sparkles, 25-foot-wide tail feathers, and a motion-activated top hat revealing baby turkey figures. The parade will air on NBC and stream on Peacock on November 28. Jennie-O will also provide holiday meal planning support through their 1-800-TURKEYS hotline, website chat, and text service until December 1.