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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, 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.
Hormel Foods is seeking three recent graduates for a unique opportunity to represent the PLANTERS® brand as "Peanutters" driving the NUTMOBILE™ across the United States. This full-time role runs from June 2022 to June 2023 and includes engaging with communities at local events. Candidates must hold a bachelor’s degree, preferably in sales or marketing, and have a passion for adventure. Applications are open until January 24, 2022. Hormel Foods aims to keep the tradition of the NUTMOBILE™ alive, enhancing brand visibility.
Hormel Foods Corporation (NYSE: HRL) announced its 2022 Annual Meeting of Stockholders will be held virtually on January 25, 2022, at 6 p.m. CST due to the COVID-19 pandemic. Only registered stockholders as of December 3, 2021, can participate and vote electronically using their 16-digit control number. The webcast link is www.virtualshareholdermeeting.com/HRL2022. For non-stockholders wishing to attend, registration is available as guests, but they cannot vote or submit questions.
Green Circle Capital Partners has launched a venture capital division, Green Circle Foodtech Ventures I (GCFV), with Hormel Foods (NYSE: HRL) as the anchor investor. The fund aims to raise $25 million to support companies in the Foodtech ecosystem, focusing on sectors like alternative proteins and sustainable packaging. The partnership is seen as a significant opportunity for portfolio companies, leveraging Hormel's expertise in food production and marketing. GCFV plans to invest in about a dozen startups by providing capital and strategic support.
Hormel Foods Corporation (NYSE: HRL) reported record fourth-quarter fiscal 2021 results, with net sales of $3.5 billion, up 43% year-over-year. Operating income increased by 29% to $358 million, and diluted earnings per share reached $0.51, a 19% rise. For the full fiscal year, net sales were $11.4 billion, up 19%. Despite challenges like labor shortages and inflation, strong growth was seen across all segments, particularly in foodservice with a 72% surge. Guidance for fiscal 2022 expects net sales between $11.7-$12.5 billion and EPS between $1.87-$2.03.
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