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Hormel Foods Corporation - HRL STOCK NEWS

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.

News

HORMEL FOODS REPORTS FIRST QUARTER FISCAL 2024 RESULTS

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Hormel Foods Corporation (HRL) reported strong first-quarter results with volume growth across all segments, reaffirming full-year guidance. Net sales increased by 1% to $3.0 billion, operating income was $284 million, down 2%, and adjusted operating income rose by 2% to $295 million. Diluted net earnings per share remained steady at $0.40. The company's outlook for fiscal year 2024 includes a net sales growth of 1% to 3% and diluted net earnings per share of $1.51 to $1.65, with a significant year-over-year decline in whole bird turkey markets.
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Hormel Foods Hosts Student Winners of its 13th Annual Dr. Martin Luther King Jr. Essay Contest

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Hormel Foods commemorates MLK Day and Black History Month with an essay competition for elementary and middle school students, where three winners visited the company's headquarters to read their winning essays. The event was sponsored by the Hormel Foods Black Leaders & Allies Advancing Cultural Knowledge (BLAACK) group, with students sharing their thoughts on 'What Dr. Martin Luther King Jr. Means to Me.'
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Hormel Foods Announces Katie Clark as Senior Vice President and Chief Communications Officer

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Hormel Foods Corporation appoints Katie Clark as senior vice president and chief communications officer. Clark will oversee global communications, external media relations, internal communications, global impact communications, and corporate reputation. She brings over two decades of experience from CPG, retail, and healthcare industries.
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Just in Time for Spring Holidays, the Hormel Gatherings® Brand Team Introduces Spring-Themed Honey Ham & Turkey Tray

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HORMEL GATHERINGS® brand introduces a new seasonal party tray, the Honey Ham & Turkey Tray, just in time for springtime celebrations and Mother's Day.
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Hormel Foods and its 10 Under 20 Food Heroes Program Honored at 3rd Annual Anthem Awards

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Hormel Foods Corporation (NYSE: HRL) was honored at the third-annual Anthem Awards for its 10 Under 20 Food Heroes program, recognizing and supporting young changemakers in improving food systems. The company was recognized for impactful work in the Humanitarian Action & Services category, showcasing its commitment to fostering a better world. The program provides mentorship, internship options, and hands-on experiences to 10 young entrepreneurs under 20, empowering them to increase their positive impact on the world.
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HORMEL FOODS INSPIRES FAN SNACKING FOR THE BIG GAME WITH HORMEL® CHILI BOARD

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Hormel Foods Corporation (NYSE: HRL) is capitalizing on the trend of food boards by introducing the HORMEL® Chili Board, just in time for the Big Game. The company aims to show football fans how to elevate their Big Game parties with regional specialties from Kansas City and San Francisco, featuring the Hormel® Chili brand.
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Hormel Foods Announces the Advancement of Matt Schrupp to Vice President of Supply Chain Operations for Jennie-O Turkey Store

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Hormel Foods Corporation (NYSE: HRL) has promoted Matt Schrupp to vice president of supply chain operations for Jennie-O Turkey Store, overseeing supply chain operations, live production team, and commodity sales function. Steve Lykken, group vice president of supply chain, praised Schrupp's extensive operations knowledge and leadership, highlighting his potential to position Jennie-O Turkey Store as an industry leader.
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Hormel Foods Corporation to Hold First Quarter Earnings Conference Call

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Hormel Foods Corporation (NYSE: HRL) will host a webcast and conference call to discuss its first quarter financial results on February 29, 2024. The call will feature Jim Snee, chairman of the board, president and CEO, Jacinth Smiley, executive VP and CFO, and Deanna Brady, executive VP of Retail. The earnings release will be issued before the markets open, with the call scheduled for 8 a.m. CT (9 a.m. ET). Interested parties can access the webcast, replay, and other event information on the Company's investor website.
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Hormel Foods Announces the Retirement of Mark Coffey, Group Vice President of Supply Chain, and the Advancement of Steve Lykken

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Hormel Foods Corporation (NYSE: HRL) announced the retirement of Mark Coffey, group vice president of supply chain, and the advancement of Steve Lykken, group vice president of Jennie-O Turkey Store, to group vice president of supply chain. Lykken will lead the company's One Supply Chain organization, including procurement, manufacturing, engineering, logistics, research and development, quality management, and plant operations. Jim Snee, chairman of the board, president, and CEO at Hormel Foods, expressed gratitude for Coffey's leadership and welcomed Lykken's experience and vision for operational excellence.
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The Makers of the HERDEZ® Brand Announce Partnership with LPGA Golfer Megan Khang

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HERDEZ® brand salsa, the No. 1 selling salsa brand in Mexico, has partnered with LPGA Tour member Megan Khang, who has 37 top-10 finishes in her career and has represented Team USA at the Solheim Cup. The partnership is a result of Khang's love for Mexican food and her positive attitude.
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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 $30.86 as of January 23, 2025.

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

The market cap of Hormel Foods Corporation (HRL) is approximately 16.7B.

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.
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Hormel Foods Corporation

NYSE:HRL

HRL Rankings

#627 Ranked by Market Cap
#842 Ranked by Dividends

HRL Stock Data

16.69B
291.24M
0.22%
88.02%
1.7%
Packaged Foods
Meat Packing Plants
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