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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) is hosting the World's Largest Virtual Friendsgiving on Tuesday, Nov. 24, from 7-8 p.m. CT. This event will feature celebrity appearances, musical performances, and holiday cooking tips on the Hormel Foods YouTube channel. In response to the pandemic, Hormel has previously hosted various virtual events and donated over $1.5 million to hunger causes. During the Friendsgiving, an additional 250,000 meals will be donated to Feeding America. The event will be hosted by Paul Zahn and feature performances by Boyz II Men and Taylor Dayne.
Columbus Craft Meats has announced the expansion of its popular Columbus® Charcuterie Tasting Board line with the launch of its Mediterranean variant, just in time for the holidays. Retailing at approximately $13.99, this new offering features premium Mediterranean ingredients such as chorizo, prosciutto, Fontina cheese, and dried Turkish apricots, all presented on a wood-printed board. The company aims to provide convenient and visually appealing charcuterie options for consumers gathering in smaller groups. Columbus Craft Meats is a subsidiary of Hormel Foods (NYSE: HRL).
Jennie-O Turkey Store has enlisted culinary experts to assist consumers with Thanksgiving meal preparation via the 1-800-TURKEYS hotline from Nov. 19-25. Notable chefs, including Food Network champions and specialized influencers, will offer advice on various cooking techniques. The initiative aims to support first-time holiday hosts, with additional resources available through the Jennie-O website. Consumers can text 'Turkey' to 73876 for assistance and track their turkey's origin through the Turkey Tracker. This effort emphasizes Jennie-O's commitment to a stress-free holiday experience.
Columbus Craft Meats, a growing deli brand, announces the launch of three premium charcuterie gift collections: Charcuterie 101 Collection, Charcuterie Entertaining Collection, and Felino Gold. These items cater to holiday gifting trends, delivering unique offerings directly to consumers. Each collection offers a curated selection of artisan meats, cheeses, and accompaniments alongside a guide for creating charcuterie boards. The products will be available for online order, enhancing convenience during the festive season.
Hormel Foods Corporation (NYSE: HRL) announced the recipients of the 2020 Hormel Heroes Scholarships, awarding $10,000 each to Christina Gilman and Angela Thompson. Both recipients have military backgrounds and are pursuing degrees in hospitality management and foodservice. Gilman, a U.S. Marine Corps sergeant, is studying at American Public University, while Thompson, a U.S. Air Force veteran, is enrolled at St. Louis Community College. Hormel Foods emphasizes its commitment to supporting veterans in their educational pursuits, as stated by Mark Ourada, group vice president of Hormel Foods Foodservice.
Hormel Foods Corporation (NYSE: HRL) will host a conference call on November 24, 2020, at 9:00 a.m. CT to discuss its fourth quarter and full-year financial results. The earnings press release will be issued before the market opens on the same day. Interested participants can join via phone or webcast through Hormel's website. The company, based in Austin, Minn., boasts over $9 billion in annual revenue and is a member of the S&P 500 Index.
Hormel Foods Corporation (NYSE: HRL) has been recognized for its internship program, ranking 38th on Vault's 2021 list of 100 Best Internships. The company also secured positions on several other prestigious lists, including No. 18 for Employment Prospects and No. 4 for Sales & Marketing and Retail & Consumer Products Internships. The company adapted its program to provide virtual networking and exposure to different divisions during the pandemic, aiming for a higher full-time acceptance rate for interns. Over 11,000 interns participated in the survey that determined these rankings.
Jennie-O Turkey Store launches its 1-800-TURKEYS hotline on November 2, 2020, offering support for holiday turkey preparations. Consumers can access live chat and text messaging with specialists for cooking tips and meal ideas. The hotline will operate until November 29, 2020, and will feature consultations with chefs starting November 19. Additionally, Jennie-O introduces the Turkey Tracker feature, allowing customers to trace their turkeys back to their farms. With over 1,500 turkey products, Jennie-O aims to simplify holiday meal planning.
Hormel Foods Corporation (NYSE: HRL) announced the promotion of Paul Kuehneman and Eldon Quam to assistant controllers. Kuehneman will manage financial operations for the supply chain and Jennie-O Turkey Store, while Quam will oversee the Grocery Products and International segments. Both promotions are expected to bolster Hormel's financial capabilities. Kuehneman, with a long history at Hormel since 1993, previously served as CFO for Jennie-O Turkey Store. Quam, who joined in 1998, was involved with Oracle implementations and has held several key financial roles.
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