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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.
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.
Hormel, known for its iconic chili, has launched the first-ever Hormel® Chili Cheese Keg, a game-changing appetizer for Big Game gatherings. This keg combines chili and cheese in a functional half-barrel, offering 15 gallons of delicious dip. Fans can enter a sweepstakes from Jan. 26 to Feb. 6, 2022, for a chance to win one, which will be delivered before the Big Game on Feb. 13, 2022. The keg provides nearly 300 servings and features a warming element and tap handle in the shape of a Hormel® Chili can, enhancing the game day experience.
Hormel Foods Corporation (NYSE: HRL) announced the promotion of Paul Kuehneman to vice president and controller, succeeding Jana Haynes, who has departed the company. Kuehneman brings over 25 years of finance and accounting experience within Hormel and most recently served as assistant controller. His responsibilities will include overseeing financial policies, internal controls, and financial reporting. Hormel Foods generates over $11 billion in annual revenue and is known for its renowned brands like Planters, SPAM, and Hormel Natural Choice.
Hormel Foods announces the return of the PLANTERS® brand to the Big Game after a one-year hiatus. This year, the brand teams up with comedians Ken Jeong and Joel McHale to spark a debate on how to enjoy PLANTERS® Deluxe Mixed Nuts. Their creative ad, developed by VaynerMedia, will air during halftime in select markets. Hormel previously allocated $5 million for community recognition efforts during the Big Game. Fans are encouraged to join the debate on social media.
Hormel Foods Corporation (NYSE: HRL) and its subsidiary Justin's have made a $10,000 donation to Conscious Alliance to support hunger-relief efforts for those affected by Colorado wildfires. Randy Simonson, president of Justin's, expressed pride in aiding the local community through this partnership. Hormel has donated over $50 million in cash and products to non-profits over the last five years, including $6.4 million in hunger relief donations in 2020.
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