Welcome to our dedicated page for Hormel Foods news (Ticker: HRL), a resource for investors and traders seeking the latest updates and insights on Hormel Foods stock.
Hormel Foods Corporation (NYSE: HRL) is a Fortune 500 global branded food company based in Austin, Minnesota, known for protein-centric foods sold under brands such as PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS® and JENNIE-O®. The Hormel Foods news stream covers developments that affect its brand portfolio, financial performance and corporate strategy.
Investors and followers of HRL can use this page to monitor earnings announcements and outlook updates, including quarterly and full-year results, segment performance in Retail, Foodservice and International, and commentary on margins, input costs and strategic initiatives like the Transform and Modernize (T&M) program. Regulatory disclosures about restructuring plans, role reductions and other cost actions are also reflected in company news and related Form 8‑K filings.
News from Hormel Foods frequently highlights brand and product activity, such as new offerings from the HORMEL® MARY KITCHEN® brand, collaborations for SKIPPY® products with partners like Milk Bar®, and experiential marketing programs for the PLANTERS® brand, including the NUTmobile and Peanutter ambassador roles. These stories provide insight into how the company supports its brands, engages consumers and responds to demand for convenient, comfort-oriented foods and snacks.
Corporate updates also include leadership changes and governance milestones, such as appointments to executive roles, information about the annual meeting of stockholders and recognition from external organizations. Examples include being named to Fast Company’s Brands That Matter list and being recognized by U.S. News & World Report, Newsweek and TIME magazine for workplace quality, responsibility and overall performance.
By following this HRL news page, readers can track how Hormel Foods communicates its strategy, manages its portfolio of more than 30 brands and navigates market conditions across its retail, foodservice and international businesses.
Hormel Foods (NYSE: HRL), a global branded food company, has announced its participation in the 2024 Oppenheimer Consumer Growth & E-Commerce Conference on June 10, 2024. The event will take place at 11:45 a.m. CT (12:45 p.m. ET). Representing Hormel Foods will be Jim Snee, chairman, president, and CEO, along with Jacinth Smiley, executive vice president and CFO. Interested parties can access the live webcast and replay on Hormel Foods' investor website.
Hormel Foods (NYSE: HRL) reported its second quarter results for fiscal 2024, ending April 28. The company saw net sales of $2.89 billion, a decrease compared to $2.98 billion in the same period last year. Operating income also dropped to $252 million from $296 million. The adjusted diluted net earnings per share were $0.38, down from $0.40, while the effective tax rate increased to 22.5% from 22.1%. Despite these declines, the company experienced a 13% increase in cash flow from operations, totaling $236 million. For the first half of the year, Hormel Foods reported net sales of $5.88 billion and an operating income of $537 million. The company updated its full-year earnings outlook, reaffirming net sales growth of 1-3% and adjusting its diluted net earnings per share to $1.55-$1.65. Hormel Foods continues to focus on strategic initiatives to drive long-term growth, particularly in the Foodservice and International segments.
Hormel Foods has launched its largest-ever summer internship program, welcoming over 90 college students from more than 50 universities. The 10-week program, recognized by Vault as one of the best in the nation, covers various fields such as sales, engineering, marketing, and food science. Hormel aims to convert over 70% of these interns into full-time employees. Interns will gain hands-on experience and work across multiple company departments, contributing to a Fortune 500 global branded food company. The program runs through August 2, 2024.
The makers of WHOLLY® GUACAMOLE, America's No. 1 refrigerated guacamole brand, have introduced their latest product: WHOLLY® GUACAMOLE Extra Chunky Restaurant Style guacamole. This new product is crafted with real hand-scooped Hass avocados, tomatoes, red onions, cilantro, lime juice, jalapeño peppers, and spices to provide a medium heat kick. It aims to replicate the restaurant guacamole experience at home, catering to over 62% of consumers who are shifting towards home meals. Available in multiple sizes at various grocery retailers, this product targets those looking for convenient, authentic-tasting guacamole.
Hormel Foods (NYSE: HRL) announced its quarterly dividend of 28.25 cents per share on May 20, 2024.
The dividend is set to be paid on August 15, 2024, to shareholders on record as of July 15, 2024.
This marks the 384th consecutive quarterly dividend payment by Hormel since it became a public company in 1928.
Hormel Foods is a Fortune 500 global branded food company.
MegaMex Foods has launched a new product line called HERDEZ® Quemada Charred Salsas, aimed at enhancing restaurant menus with unique, deep charred flavors. The salsas are available in four flavors: Salsa Roja, Salsa Verde, Salsa Poblano, and Salsa Chipotle, with heat levels ranging from mild to medium. The salsas are made with ingredients like charred tomatoes, tomatillos, and various peppers, offering a house-made consistency. These products are available in 4/67 oz resealable jugs and are designed for foodservice operations seeking innovative flavors. For more information, visit MegaMex Foods’ website.
Hormel Foods announced the appointment of Colleen Batcheler as the new Senior Vice President, External Affairs & General Counsel. Batcheler will oversee the Legal and External Affairs function, reporting directly to Jim Snee, the CEO. She brings over 25 years of legal experience to the role.
Hormel Foods Sales, issued a voluntary recall for specific PLANTERS® products distributed to two retailers in five states due to potential Listeria monocytogenes contamination. No consumer illnesses reported. The affected products include Honey Roasted Peanuts and Deluxe Lightly Salted Mixed Nuts with specific UPC codes and expiration dates.
Hormel Foods (NYSE: HRL) will hold a conference call to discuss its second-quarter financial results. The call will feature key executives and will take place on May 30, 2024, at 8 a.m. CT. Interested parties can access the webcast and other related information on the company's investor website.
The PLANTERS® brand has introduced a new salt & vinegar flavored cashews to their portfolio, aiming to provide a unique snacking experience for consumers. The new flavor is part of their successful line of flavored cashews, following the release of other exciting varieties in the past.