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Hormel Foods Corporation - HRL STOCK NEWS

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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.

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Hormel Foods Corporation (NYSE: HRL) will conduct a virtual Investor Update on October 14, 2021, from 9:00 a.m. ET to noon ET. The event will feature Jim Snee, chairman and CEO, along with Jim Sheehan, CFO, and other senior management. They will discuss the company’s long-term strategy and key initiatives, followed by a live Q&A session. Hormel Foods, based in Austin, Minn., generates over $9 billion in annual revenue, operating in over 80 countries with well-known brands like SPAM and Planters.

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Jennie-O Turkey Store has unveiled a fully cooked turkey barbacoa designed for foodservice operators. This innovative product is seasoned with paprika, garlic, and guajillo chili pepper, aligning with current consumer trends for flavorful and nutritious menu options. The offering allows for quick and easy preparation, catering to the popularity of Mexican cuisine in various dishes such as tacos and bowls. Jennie-O, a subsidiary of Hormel Foods Corporation (HRL), continues to expand its portfolio with over 1,500 turkey products available across the United States and internationally.

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Hormel Foods has launched a new plant-based pepperoni-style topping called Happy Little Plants®. Developed in collaboration with pizzerias and chefs, this product aims to provide a taste and cooking experience similar to traditional pepperoni, appealing to both plant-based eaters and meat lovers. It will soon be available at pizzerias nationwide and showcased at the Pizza Expo in Las Vegas. Hormel, recognized as a leader in the food industry, continues to innovate in plant-based offerings to meet consumer demand for healthier options.

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Hormel Foods Corporation (NYSE: HRL) will hold a conference call on September 2, 2021, to discuss its third quarter financial results. The call is scheduled for 8:00 a.m. CT (9:00 a.m. ET) and will follow the release of the earnings press release before the market opens. Interested parties can listen to the live webcast on the company's website under the Investors section. Hormel Foods is a global food company with over $9 billion in annual revenue.

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Hormel Chili, the top-selling chili brand in the U.S., is inviting fans to submit creative recipes for the inaugural Hormel Chili Creations cookbook. Submissions are open until 11:59 p.m. CDT on August 29, 2021, with selected recipes featured in the cookbook set to launch later this year. Additionally, Hormel Foods will donate up to $10,000 to Autism Speaks for every recipe submitted. Hormel Chili aims to showcase its versatility beyond being enjoyed in a bowl, as noted by brand manager Sarah Johnson.

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Hormel Foods (NYSE: HRL) has launched its largest summer internship program, welcoming 83 students from nearly 50 colleges across the U.S., despite the ongoing COVID-19 pandemic. The 10-week program, initiated on June 1 and concluding on August 6, offers paid positions averaging 40 hours per week. Hormel's internship program boasts an 85% conversion rate of interns to full-time employees. Notably, it ranked 38th in Vault's 2021 Best Internships and has received accolades for its excellence in various internship categories.

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The MR. PEANUT® character is relocating to Hormel Foods in Minnesota, marking the PLANTERS® brand's new chapter. To celebrate, the character is donating a total of $100,000 to 10 local charities, awarding $10,000 each to support impactful community initiatives. Events will include a welcoming gathering on July 15, featuring celebrity appearances and promotional activities. Hormel Foods, known for brands like SKIPPY® and SPAM®, aims to engage the community and highlight local heroes throughout the summer. The NUTMOBILE™ will tour Minnesota to further promote these efforts.

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Hormel Foods Corporation (NYSE: HRL) has been recognized as No. 17 on Selling Power's 50 Best Companies to Sell For list, marking the 21st consecutive year of publication. This accolade highlights the company’s commitment to world-class benefits and training programs. Hormel emphasizes a culture of inclusion and talent development, backed by effective sales professionals. The ranking evaluated companies on compensation, sales culture, onboarding, and training strategies. Hormel Foods operates globally, generating over $9 billion in annual revenue.

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The Natural Choice® brand launched the 2021 Good Feeds Us All Tour in partnership with BBQ expert Moe Cason, providing donations and free sandwich samples of its new hardwood smoked lunch meat. The tour, running until July 16, features events at various community organizations across the U.S., including Cub Foods locations in Minnesota. Cason emphasizes that the lunch meats are crafted using traditional methods. Natural Choice® products are 100% natural, with no preservatives or artificial ingredients, aimed at offering convenient meal solutions to families.

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The makers of Natural Choice are collaborating with BBQ expert Moe Cason for the 2021 Good Feeds Us All Tour, aimed at supporting communities in need. Kicking off on June 23, 2021, the tour will visit cities like St. Paul, Des Moines, and Kansas City, featuring free public sampling events and donations. Cason’s signature sandwich made with Natural Choice hardwood smoked lunch meats will be showcased. The tour runs until July 16 and emphasizes community connections while offering wholesome meal solutions.

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FAQ

What is the current stock price of Hormel Foods Corporation (HRL)?

The current stock price of Hormel Foods Corporation (HRL) is $31.68 as of December 20, 2024.

What is the market cap of Hormel Foods Corporation (HRL)?

The market cap of Hormel Foods Corporation (HRL) is approximately 17.4B.

What does Hormel Foods Corporation specialize in?

Hormel Foods specializes in the manufacture and marketing of consumer-branded food and meat products, including hams, bacon, sausages, canned luncheon meats, and salsas.

What are the main brands of Hormel Foods?

Hormel Foods' major brands include Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy, among others.

How has Hormel Foods performed recently?

Hormel Foods has shown strong performance recently, with significant volume growth across its segments and robust demand for its foodservice products.

What strategic initiatives is Hormel Foods currently undertaking?

Hormel Foods is focused on its transformation and modernization initiative, improving its supply chain, and expanding its product offerings through innovation.

How does Hormel Foods support sustainability?

Hormel Foods supports sustainability through packaging redesigns that reduce material usage and youth programs like the 10 Under 20 Food Heroes, fostering innovation in food sustainability.

What is the significance of the HORMEL® NATURAL CHOICE® packaging redesign?

The HORMEL® NATURAL CHOICE® packaging redesign reduces packaging material by 337,000 pounds annually and introduces a fresher look while maintaining product quality.

What is the newest product innovation by Hormel Foods?

Hormel Foods recently introduced HORMEL® Ribbon Pepperoni, designed to improve pizza preparation efficiency for foodservice operators.

How does Hormel Foods engage with young innovators?

Hormel Foods engages with young innovators through its 10 Under 20 Food Heroes program, offering mentorship, internships, and resources to young trailblazers in the food industry.

What are the financial highlights of Hormel Foods for the second quarter of fiscal 2024?

Hormel Foods reported strong financial results, with growth in the Foodservice and International segments, improved supply chain, and stable business volumes.

Where can I find more information about Hormel Foods?

More information about Hormel Foods can be found on their official website at www.hormelfoods.com.

Hormel Foods Corporation

NYSE:HRL

HRL Rankings

HRL Stock Data

17.40B
291.18M
0.22%
88.02%
1.7%
Packaged Foods
Meat Packing Plants
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United States of America
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