Welcome to our dedicated page for Hormel Foods Corporation news (Ticker: HRL), a resource for investors and traders seeking the latest updates and insights on Hormel Foods Corporation stock.
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 -edition SPAM® Musubi Day Merch Collection to celebrate National SPAM® Musubi Day and support Maui's restoration efforts. The collection, available on SPAM.com, includes apparel, summer essentials, and a unique SPAM® Musubi-shaped ottoman. 100% of the proceeds will be donated to Aloha United Way to aid Maui's recovery from the Lahaina wildfires.
The collection features items like crew necks, lounge pants, blankets, hats, and even SPAM® Musubi earrings. Hawaiian actor Auli'i Cravalho is partnering with the SPAM® brand to promote the collection. Prices range from $0.50 for temporary tattoos to $1,000 for the ottoman. This initiative combines SPAM® brand fandom with support for the Hawaiian community, reflecting the brand's commitment to its cultural roots.
Hormel Foods, owner of the PLANTERS® brand since 2021, has released a new short film spotlighting the Peanut Pals, a group of over 400 MR. PEANUT® superfans. The film, titled 'Legendary Legume: The Peanut Pals and MR. PEANUT®', is part of Hormel's Inspired Fans™ series.
The Peanut Pals collectively own thousands of pieces of MR. PEANUT® merchandise and have been gathering at convention-style events across the country since 1978. These events allow collectors to showcase their MR. PEANUT® keepsakes and search for new items to add to their collections.
MR. PEANUT®, the iconic PLANTERS® brand mascot, was created in 1916 from a sketch by 14-year-old Antonio Gentile. The character has since become globally recognized, appearing on product packaging and various merchandise.
Hormel Foods (NYSE: HRL) has released its 18th Global Impact Report, showcasing progress towards environmental, social, and governance goals in fiscal 2023. Key achievements include:
- Validating science-based targets for emissions reduction
- Reducing product packaging by 1.7 million pounds
- Achieving the lowest recordable incident rate in company history
- Providing free two-year college education to over 200 dependents of U.S. team members
- Contributing $12.5 million in cash and products for community upliftment
The report follows GRI Standards and SASB guidance, aligning with select UN Sustainable Development Goals. Hormel Foods continues to be recognized as a leading corporate citizen, named one of Fortune's World's Most Admired Companies and Newsweek's America's Most Responsible Companies.
Hormel Foods (NYSE: HRL), a Fortune 500 global branded food company, has announced its upcoming third quarter earnings conference call. The event is scheduled for Wednesday, September 4, 2024, at 8 a.m. CT (9 a.m. ET). Key participants will include:
- Jim Snee, chairman of the board, president and CEO
- Jacinth Smiley, executive vice president and CFO
- Deanna Brady, executive vice president, Retail
The company will release its earnings report before markets open on the same day. Interested parties can access the webcast, replay, and related information on Hormel's investor website at http://investor.hormelfoods.com.
The makers of HORMEL® BLACK LABEL® brand have introduced a new -edition flavor: Garlic Rosemary flavored bacon. This launch aims to showcase bacon's potential beyond breakfast and appeal to Millennial and Gen Z consumers who seek exciting flavors but often overlook bacon in non-breakfast recipes. The brand offers the widest selection of flavored bacon in the industry and has recently released other -time flavors like Ranch Bacon and Apple Cider Bacon.
Aly Sill, senior manager of the HORMEL® BLACK LABEL® brand, emphasizes that this new flavor is best suited for dishes like steak wraps or pasta carbonara. The company plans to continue introducing innovative flavors in the coming months to expand bacon's culinary possibilities and attract a new generation of consumers to the category.
Hormel Foods (NYSE: HRL) has announced its third cohort of 10 Under 20 Food Heroes, recognizing young changemakers working towards a more transparent, secure, and sustainable food system. The honorees will visit Hormel's global headquarters in Austin, Minnesota, to connect with company leaders and discuss scaling their projects. Each Food Hero will receive a financial grant to support their initiatives.
The 2024 class includes ten remarkable individuals aged 10-18 from across the United States, each making significant contributions to combat hunger, reduce food waste, and promote food sustainability. Their projects range from founding nonprofits and organizing food distributions to implementing hydroponic gardening systems and eliminating student lunch debt.
Hormel Foods also introduced the 10 Under 20 Food Hero Ambassadors, Shreyaa and Esha Venkat, founders of NEST4US, a nonprofit dedicated to mobilizing volunteers worldwide to address societal issues and spark equitable solutions.
The PLANTERS® brand has launched a new advertising campaign called 'Duo-licious' to support the introduction of PLANTERS® Nut Duos. The campaign features three 15-second TV spots showcasing a singing duo interrupting snacking moments to highlight the unique pairing of two nuts and two flavors in each product. The ads will run on TV, streaming services, digital platforms, and social media, including a Snapchat lens and TikTok creator content.
The PLANTERS® brand team developed the product by exploring over 100 nut-and-flavor combinations before finalizing the most appealing recipes. PLANTERS® Nut Duos are available in 5-ounce resealable bags with a suggested retail price of $4.79.
WHOLLY® AVOCADO, America's top refrigerated guacamole and avocado brand, is partnering with Irv's Burgers to celebrate National Avocado Day on July 31, 2024. Customers at select Irv's Burgers locations in Los Angeles, West Hollywood, and Malibu can enjoy a free WHOLLY® Smashed Avocado Mini with any purchase and try the -time WHOLLY® AVOCADO Bacon Burger.
Additionally, fans nationwide can enter a giveaway on Instagram for a chance to win a year's supply of WHOLLY® products. The brand also suggests recipes for at-home celebrations, including Prosciutto and Avocado Pesto Sandwich Bites, Avocado Sushi Roll, Avocado Hummus, and Avocado Margaritas. WHOLLY® AVOCADO products are made with 100% Hass avocados, are gluten-free, non-GMO, kosher, and keto-friendly.
Hormel Foods (NYSE: HRL) has been named to Forbes' list of America's Best Employers for Women 2024. The company's commitment to supporting women is evident through its employee resource groups like Hormel Foods Women in Leadership and Women's Insight Network. Notably, 12 women hold leadership positions at Hormel Foods, including six at the senior level.
Katie Larson, SVP of Human Resources, emphasized the company's culture of inclusion and diversity, highlighting opportunities for women to lead and excel. The Forbes recognition, conducted in partnership with Statista Inc., was based on an independent survey of over 150,000 women working for companies with at least 1,000 employees in the U.S. The evaluation considered personal and public assessments, as well as diversity among top executives and board members.
Hormel Foods (NYSE: HRL), a Fortune 500 global branded food company, has been named one of the 2024 Selling Power 60 Best Companies to Sell For. This marks the 23rd time Hormel has earned this distinction. The company’s vice president of Sales, David Weber, attributes this accolade to the highly skilled and efficient sales team that drives the company's success.
The recognition highlights Hormel Foods' commitment to creating a successful sales culture through effective marketing strategies, expanding product distribution, and fostering strong customer relationships. The Selling Power research team assessed companies based on compensation and benefits, hiring practices, sales training, sales enablement, and diversity and inclusion.
According to Gerhard Gschwandtner, Selling Power's CEO, companies on the list are noted for their excellent cultures, diversity commitment, and support for their sales teams during challenging economic times. For the full list of the 60 Best Companies to Sell For in 2024, visit Selling Power’s website.
FAQ
What is the current stock price of Hormel Foods Corporation (HRL)?
What is the market cap of Hormel Foods Corporation (HRL)?
What does Hormel Foods Corporation specialize in?
What are the main brands of Hormel Foods?
How has Hormel Foods performed recently?
What strategic initiatives is Hormel Foods currently undertaking?
How does Hormel Foods support sustainability?
What is the significance of the HORMEL® NATURAL CHOICE® packaging redesign?
What is the newest product innovation by Hormel Foods?
How does Hormel Foods engage with young innovators?
What are the financial highlights of Hormel Foods for the second quarter of fiscal 2024?
Where can I find more information about Hormel Foods?
