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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® Pepperoni, America's No. 1 pepperoni brand, is launching a campaign for National Pepperoni Pizza Day on September 20, 2024. Starting September 4, fans can visit www.PepperoniTimeOff.com to declare their intention to take 'Pepperoni Time Off' (PTO) and enter for a chance to win the Ultimate HORMEL® Pepperoni Pizza Vacation to New York City or Chicago during National Pizza Month in October.
The campaign encourages fans to fully enjoy HORMEL® Pepperoni pizza without interruptions. Participants can share their PTO news on social media using #PepperoniTimeOff for more chances to win. HORMEL® Pepperoni offers various shapes, sizes, and flavors, including original, Cup N' Crisp, and Confetti, to cater to different pepperoni cravings and occasions.
Hormel Foods (NYSE: HRL) reported third quarter fiscal 2024 results, with net sales of $2.90 billion and diluted net earnings per share of $0.32. The company delivered better-than-expected earnings and saw growing benefits from its transform and modernize initiative. Key highlights include:
- Volume of 1.02 billion lbs
- Operating income of $237 million; adjusted operating income of $267 million
- Cash flow from operations of $218 million
Hormel updated its fiscal year 2024 outlook, narrowing the expected diluted net earnings per share range to $1.45 to $1.51 and adjusting the net sales range to $11.8 billion to $12.1 billion. The company continues to focus on executing strategic priorities across its Retail, Foodservice, and International segments.
The makers of HORMEL® BLACK LABEL® Bacon are launching the category's first-ever co-branded bacon in partnership with CINNAMON TOAST CRUNCH™ cereal. This -edition product features thick-cut bacon hand-rubbed with CINNADUST™ seasoning blend, offering a unique sweet and savory flavor combination. BLACK LABEL® CINNAMON TOAST CRUNCH™ Bacon will be available starting September 16 at select Walmart locations, followed by select Kroger stores.
This collaboration brings together two brands with passionate fanbases, aiming to deliver a craveable product suitable for various eating occasions. The makers of HORMEL® BLACK LABEL® Bacon plan to continue introducing unexpected partnerships and -time products in 2025 and beyond.
Hormel Foods (NYSE: HRL), a Fortune 500 global branded food company, has announced its participation in the 2024 Barclays Global Consumer Staples Conference. The event will feature Jim Snee, president, CEO, and chairman of the Board, along with Jacinth Smiley, executive vice president and CFO.
The conference is scheduled for Thursday, September 5, 2024, with a fireside chat webcast beginning at 8:45 a.m. CT (9:45 a.m. ET). Investors and interested parties can access the webcast, replay, and related information on the company's investor website at http://investor.hormelfoods.com. This participation underscores Hormel's commitment to engaging with the investment community and providing insights into its business strategies and performance.
Hormel Foods (NYSE: HRL) announces the retirement of Deanna Brady, executive vice president, Retail, after 28 years of service. Brady will retire at the end of the fiscal year on Oct. 27, 2024. The company also announces the return of John Ghingo, who will join Hormel Foods on Sept. 2, 2024, and assume leadership of the Retail segment on Oct. 28, 2024.
Ghingo, previously president of Applegate Farms, from 2018 to 2022, brings extensive experience in the consumer packaged goods industry. CEO Jim Snee praised Brady's leadership and impact on the company's culture, while expressing confidence in Ghingo's ability to drive continued focus, innovation, and growth within the Retail segment.
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.
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