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Hormel Foods Corporation (NYSE: HRL), headquartered in Austin, Minnesota, is a globally recognized Fortune 500 company, noted for its extensive portfolio of consumer-branded food and meat products. Renowned for quality, taste, and nutrition, Hormel Foods has built a strong reputation among consumers, retail grocers, foodservice, and industrial customers. The company’s diverse product range includes hams, bacon, sausages, franks, canned luncheon meats, stews, chilis, hash, meat spreads, shelf-stable microwaveable entrees, and salsas.
Historically meat-focused, Hormel Foods has broadened its offerings to include various protein sources, becoming a comprehensive branded food company. Its major brands like Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy hold dominant market positions in their respective categories. In fiscal 2023, U.S. retail accounted for 64% of sales, U.S. food service for 30%, and international sales for 6%, with 70% of sales from perishable food and 30% from shelf-stable products.
Recently, Hormel Foods has demonstrated strong performance across its business segments, particularly in the first quarter of fiscal 2024. The company’s strategic initiatives in transformation and modernization have shown promising results. Highlights include broad-based volume growth, robust demand for foodservice products, and significant progress in their Planters® snack nuts business. CEO Jim Snee emphasized the team's focused execution of strategic priorities and improvements in the supply chain, which have positively impacted the company’s growth trajectory and shareholder returns.
The company's ongoing projects include the redesign of the HORMEL® NATURAL CHOICE® product packaging, reducing packaging material by 337,000 pounds annually, and introducing HORMEL® Ribbon Pepperoni, aimed at improving pizza preparation efficiency for foodservice operators. Additionally, Hormel Foods continues to support young innovators through its 10 Under 20 Food Heroes program, recognizing and mentoring youth driving positive change in the food system.
Hormel Foods Corporation reported strong financial results for the second quarter of fiscal 2024, with continued growth in the Foodservice and International segments, improvements in the supply chain, and stable volumes across its business. The company remains focused on strategic initiatives to drive long-term growth and shareholder returns, reaffirming its commitment to excellence in quality, sustainability, and community impact.
For more information, visit www.hormelfoods.com.
The Jennie-O turkey brand celebrated its partnership with Chef Carla Hall by honoring school cafeteria staff at Panorama High School in Los Angeles on November 17, 2022. This event is part of the School Cafeteria Takeovers initiative, which began in Knoxville, Tennessee. As the first district to serve Jennie-O's No Antibiotics Ever turkey, LAUSD emphasized the importance of nutritious meals for students. The event also featured a baking tutorial and local business support for school cafeteria heroes. Jennie-O serves over 5,000 school districts across the U.S. and is the leading turkey provider in nine of the top ten districts.
Hormel Foods Corporation (NYSE: HRL) has awarded two $10,000 scholarships through its Hormel Heroes Scholarship Program to support students with military backgrounds pursuing careers in culinary arts. Recipients Kristal Qualls, a U.S. Army member studying baking and pastry arts, and Rose Picard, a military veteran completing her studies in applied food studies, received recognition on Veterans Day for their dedication and contributions. Hormel Foods aims to assist veterans in their educational pursuits, reflecting its commitment to the military community.
Hormel Foods CEO Jim Snee Recognized
Hormel Foods Corporation (NYSE: HRL) announced that its chairman and CEO, Jim Snee, was awarded the 2022 Responsible CEO of the Year by 3BL Media for his transformative leadership. This recognition highlights Hormel's commitment to environmental, social, and governance (ESG) initiatives, especially in equity in education and food security. The award was presented on October 25, 2022, during the Brands Taking Stands forum in New York City. Hormel Foods continues to receive accolades for its ESG efforts, underscoring its role in fostering community well-being.
Hormel Foods Corporation (NYSE: HRL) will host a conference call on November 30, 2022, to discuss its fourth quarter and full-year financial results. The earnings press release will be issued before the market opens that day. Jim Snee, the CEO, and Jacinth Smiley, the CFO, will lead the call at 8 a.m. CT (9 a.m. ET). Investors can access the webcast and additional information on the company's investor website.
The JENNIE-O turkey brand announced the return of its float, The Big Turkey Spectacular, at the 96th Macy's Thanksgiving Day Parade on November 24, 2022. This marks the third consecutive year of participation. The float, measuring 36 feet long, 25 feet wide, and 24 feet tall, features over 200 pounds of glitter and a motion-activated top hat with baby turkey figures. Singer Paula Abdul will perform her hit 'Straight Up' from the float. Throughout November, Jennie-O will provide consumer support for holiday meal planning via its hotline and online resources.
This holiday season, PLANTERS introduces limited-edition nut varieties, including new Butter Cinnamon Pecans and Cocoa Almonds, available at grocery stores nationwide starting November 2022. Customers can enter the brand's 'To All A Good Nut' sweepstakes for a chance to win $10,000 and a visit from the MR. PEANUT character and his Nutmobile by purchasing holiday varieties by Dec. 31, 2022. The initiative aligns with PLANTERS' tradition of being a centerpiece in holiday celebrations, enhancing festive gatherings.
Jennie-O has partnered with chef Carla Hall to honor school cafeteria staff in Knoxville, TN, through School Cafeteria Takeovers. This initiative, launched on Oct. 28, 2022, aims to celebrate these essential workers by providing them with a special meal and relaxation. Hall will lead cooking tutorials and offer amenities while Jennie-O supports the program with $25,000 allocated to schools in need. The brand's commitment includes serving over 5,000 school districts in the U.S., reinforcing its position as a leading turkey provider in K-12 nutrition.
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