Hormel Foods Corporation - HRL STOCK NEWS

Hormel Foods Corporation (NYSE: HRL) reported strong first-quarter fiscal 2022 results with a record net sales of $3.0 billion, up 24% year-over-year. Operating income reached $320 million, reflecting a 19% increase, while diluted earnings per share rose 7% to $0.44. The company reaffirmed its annual guidance with expected net sales between $11.7 billion and $12.5 billion. Despite challenges such as labor shortages and inflation, Hormel benefitted from strong demand across U.S. channels and strategic pricing actions to combat rising costs.

The makers of Columbus® Craft Meats launched their largest marketing campaign, titled "Like This." This campaign showcases how consumers can create charcuterie boards and bites using Columbus® products. As premium items gain popularity, the campaign aims to inspire easy charcuterie builds that offer elevated experiences. The new Perfect Charcuterie Bite emphasizes flavor and accessibility. It also utilizes digital channels to demonstrate charcuterie pairings, appealing to consumers seeking connection through shared culinary experiences.

Hormel Foods has partnered with The World Pizza Champions™ to introduce innovative plant-based protein pizza toppings across the U.S. in 2022. This collaboration aims to enhance menus and events, including the renowned Pizza Expo in Las Vegas. Happy Little Plants®, launched in 2019, offers delicious plant-based options appealing to health-conscious consumers. This partnership reflects Hormel's commitment to providing diverse food solutions and showcases its ability to innovate in the foodservice industry.

Hormel Foods has launched a humorous advertising campaign featuring Ken Jeong and Joel McHale, focused on the debate of how to eat PLANTERS® Deluxe Mixed Nuts. As the Super Bowl approaches, the comedic duo takes their argument online, encouraging fans to vote on their preferred snacking method—either all together or one at a time. The campaign includes a new advertisement set to air before halftime and invites fans to engage through social media and a unique quiz called the persoNUTality quiz. Hormel Foods is recognized as a leading global branded food company with over $11 billion in annual revenue.

Hormel Foods Corporation (HRL) will host a conference call on March 1, 2022, at 9:00 a.m. CT to discuss its first quarter financial results. The earnings press release will be available before market opening on the same day. Investors can join the call by dialing 888-317-6003 or accessing the live webcast via the company's website at hormelfoods.com.

The company reported annual revenues exceeding $11 billion, showcasing its global presence with operations in over 80 countries.

Hormel Foods Corporation (NYSE: HRL) announced the retirement of Fred Halvin, vice president of corporate development, after 37 years with the company. Nathan Annis, director of investor relations, will succeed Halvin. Halvin played a critical role in Hormel's major acquisitions, including the Planters snack nuts business, the largest in the company's history, completed in 2021. Annis will lead strategic planning, mergers and acquisitions, and ensure ongoing growth through acquisitions. Hormel Foods continues to maintain over $11 billion in annual revenue and remains a key player in the branded food industry.

The PLANTERS® brand has launched its first-ever persoNUTality quiz, developed in collaboration with body language expert Patti Wood. This interactive quiz allows consumers to discover their personality traits based on their snacking habits with PLANTERS® Deluxe Mixed Nuts. The quiz categorizes participants into playful personalities such as Playful Pistachio and Clever Cashew based on their eating style. This engaging initiative aims to enhance customer interaction and enjoyment, promoting the brand ahead of the Big Game with the help of entertainers Ken Jeong and Joel McHale.

Hormel Foods (NYSE:HRL) hosted its Annual Meeting of Stockholders on January 25, 2022. CEO Jim Snee reported record net sales exceeding $10 billion, marking the first time the company surpassed this milestone. He acknowledged challenges in 2021, including pandemic-related issues and supply chain disruptions, which are expected to continue in 2022 due to the Omicron variant. Hormel is committed to corporate responsibility through its 20 By 30 Challenge goals, receiving accolades from Fortune and Newsweek for its initiatives in environmental stewardship and diversity.

Hormel Foods Corporation (NYSE: HRL) announced it matched $10,000 in donations to Slice Out Hunger during their fundraising campaign. This initiative aims to bolster hunger relief efforts across the U.S., aligning with Hormel's commitment to community support. Hormel has donated over $50 million to charities in the last five years, including $6.4 million for hunger relief in 2020. The partnership continues with plans for the upcoming Pizza Across America program.