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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 Corporation (NYSE: HRL) has launched its new digital thought-leadership series, "Heart to Table", featuring stories and interviews with renowned chefs and food influencers. This initiative aims to celebrate the intersection of food, culture, and personal experiences. Brent Graber and host Laurie March lead the series, showcasing new podcast episodes and social media interactions. Esteemed guests include Chef Michael Mina and others, who share insights and recipes. The first four episodes are available now, with new releases scheduled monthly.
Hormel Foods Corporation (NYSE: HRL) announced that Glenn Leitch, executive vice president of supply chain, will retire in Q2 2021. Mark Coffey, senior vice president of supply chain and manufacturing, will take over as group vice president of supply chain. Jen Ehresmann has been named vice president of supply chain. Hormel's supply chain encompasses over 30 production facilities worldwide. Jim Snee praised Leitch's leadership during the pandemic for ensuring workforce safety and product availability. Hormel Foods reported over $9 billion in annual revenue and is part of the S&P 500 Index.
Hormel Foods Corporation (HRL) announced ambitious environmental sustainability goals as part of its 20 By 30 Challenge. By 2030, the company aims to match 100% of its global energy use with renewable sources and set science-based targets for greenhouse gas emissions reduction by 2023. Hormel also plans to enhance water quality through regenerative agriculture initiatives. These initiatives build on previous achievements in reducing packaging, energy use, emissions, water use, and landfill waste. Hormel has received recognition for its corporate responsibility, being named among the best corporate citizens and responsible companies.
Hormel Foods Corporation (NYSE: HRL) has unveiled its top food trend predictions for 2021, reflecting evolving consumer preferences amid the pandemic. Key trends include New Routines & Rituals, where convenience products will gain popularity. Intentional Leftovers will promote creative cooking for meals that can be repurposed. Hot Honey is expected to be a favorite ingredient, while Creative Charcuterie remains a growing trend. Other notable mentions are Travel by Food, Drive-by Snacking, Waffling, and a focus on Wellness. Hormel continues to strive for innovation in culinary experiences.
Hormel Foods Corporation (NYSE: HRL) announced the opening of Papillion Foods in Papillion, Neb., a state-of-the-art facility designed for dry sausage production. The 535,000-square-foot plant showcases advanced sustainability features, including automated systems and LED lighting. The company plans to hire about 350 local employees in its first operational year to meet increasing demand for products under its Columbus® Craft Meats and Hormel® brands. This development reflects Hormel's commitment to enhancing production capacity and providing community employment opportunities.
Hormel Foods Corporation (NYSE: HRL) will hold its 2021 Annual Meeting of Stockholders virtually on January 26, 2021, at 6 p.m. CST due to the COVID-19 pandemic. Only registered stockholders as of November 27, 2020, can participate and vote electronically using a control number provided in proxy materials. The meeting will include a Q&A session, with the option to submit questions in advance. Guests may register to attend but cannot vote. Notably, gift boxes will not be distributed this year for safety reasons.
Hormel Foods has launched new Happy Little Plants® plant-based protein puffs, designed for convenient snacking. Each serving offers 16 grams of plant-based protein and is available in three flavors: Ranch, Nacho Cheese, and Cinnamon & Sugar. The product is gluten-free and contains no preservatives, catering to the growing demand for plant-based options. Sold exclusively on Amazon.com, this product aligns with Hormel's commitment to providing nutritious plant-based solutions. Hormel Foods, with over $9 billion in annual revenue, continues to diversify its offerings in the health-conscious market.
Hormel Foods Corporation (NYSE: HRL) launched the virtual Season(ed) Greetings campaign to spread holiday cheer. Running through December, the campaign invites users to share virtual 'seasonings' via social media, with each share resulting in a meal donation to Conscious Alliance (up to 20,000 meals). The initiative also features a Concert of Hope & Thanks on Dec. 11, 2020, with an online auction for charity. Hormel has contributed over $50 million in food and cash donations to hunger relief over five years. This campaign aims to foster community support during the pandemic.
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