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), a global leader in branded food production, maintains this dedicated news hub for investors and industry stakeholders. Access timely updates on earnings reports, strategic initiatives, and operational developments from this Fortune 500 company renowned for SPAM, Jennie-O, and Planters brands.
This resource consolidates official press releases, product innovation announcements, and market analysis relevant to Hormel's protein processing expertise and packaged food leadership. Users will find updates spanning three key areas: quarterly financial results, sustainability initiatives, and new product launches across retail and foodservice channels.
Bookmark this page to efficiently track Hormel's performance in the competitive food manufacturing sector, with updates on operational milestones, leadership changes, and supply chain developments. Our curated news selection enables informed analysis of this established player's market position and long-term growth strategies.
Hormel Foods Corporation (NYSE: HRL) will engage in a fireside chat at the BofA Securities 2023 Consumer & Retail Conference on March 14, 2023, at 10:20 a.m. CT. Key executives, including Jacinth Smiley, Deanna Brady, and Scott Aakre, will represent the company. The live webcast and replay information will be available on Hormel's investor website. Hormel Foods, based in Austin, Minn., boasts over $12 billion in annual revenue, offering brands like Planters, SPAM, and Jennie-O across more than 80 countries. It is part of the S&P 500 Index and recognized for its corporate responsibility.
Hormel Foods Corporation (NYSE: HRL) reported Q1 fiscal 2023 results with net sales of $3.0 billion and diluted EPS of $0.40. Operating income stood at $289 million, with an operating margin of 9.7%. Despite strong demand for core brands like Hormel® Black Label® bacon, overall results fell short of expectations due to inflationary pressures and lower sales volumes. The company anticipates net sales growth of 1-3% for the full year and maintains EPS guidance of $1.70 to $1.82. Challenges include high inventory levels and supply chain inefficiencies, particularly in the snack nuts category and turkey supply.
Hormel Foods celebrates the 12th annual MLK essay contest, honoring students who write about Dr. Martin Luther King Jr.'s legacy. Winners Ava Pigrum, Andre Smith, and Michael Htoo visited Hormel's headquarters to share their essays. Sponsored by the Black Leaders & Allies Advancing Cultural Knowledge (BLAACK) group, the competition aims to promote the legacy of Dr. King and reinforce cultural diversity. Hormel, a global food brand with over $12 billion in annual revenue, continues to integrate community initiatives with corporate values, striving to uplift humanity through this educational outreach.
Hormel Foods teamed up with the World Pizza Champions to host the world's largest in-person pizza party, aiming to raise funds for Make-A-Wish. The event took place at the University of Tulsa, Oklahoma, where 40 renowned pizza-makers participated. Hormel Foods sponsored the gathering with a $10,000 donation to Make-A-Wish, encouraging attendees to contribute as well. This follows Hormel's record for the largest virtual pizza party, highlighting their commitment to community engagement and charity.
Jennie-O, a prominent turkey brand, collaborates with chef Carla Hall to honor school cafeteria staff through the School Cafeteria Takeovers program. This initiative, launched in October, aims to appreciate the unsung heroes in education by providing a special event at Mandarin Immersion Magnet School in Houston. The campaign includes baking tutorials, wellness activities, and personal gratitude notes from students. Additionally, Jennie-O will donate $25,000 in kitchen equipment to four schools to support those in need. Jennie-O is recognized as the leading turkey provider for over 5,000 school districts across the U.S.
Hormel Foods Corporation (NYSE: HRL) announced that its Columbus® Charcuterie Tasting Board has won the Appetizer Category in the 2023 Product of the Year Canada awards. Recognized for its innovation, the product is gaining traction in Canada and the U.S. as a premium charcuterie option, providing convenience for consumers who prefer ready-made options. The Product of the Year award is based on votes from 4,000 consumers, highlighting the product's popularity and quality. Hormel Foods operates globally with over $12 billion in annual revenue and a diverse portfolio of brands.
Hormel Foods Corporation (NYSE: HRL) announced it will release recast historical financial data on Feb. 28, 2023 as part of its new operating model, GoFWD. The company will also host a webcast at 4 p.m. CT to discuss the new financial reporting structure. Furthermore, Hormel will issue its first-quarter earnings release on Mar. 2, 2023, followed by a conference call at 8:30 a.m. CT. The company reports over $12 billion in annual revenue, offering a range of well-known brands across more than 80 countries.
Hormel Foods Corporation (NYSE: HRL), a leading global food company, has elevated Henry Hsia to vice president of Retail marketing for Snacking and entertaining as of February 3, 2023. Hsia will oversee brand-building for notable brands including Planters®, Corn Nuts®, and Hormel Gatherings®. Having joined Hormel in October 2018 after the Columbus Craft Meats acquisition, Hsia has successfully led marketing and R&D for the Columbus® brand. Jim Snee, CEO of Hormel Foods, expressed confidence in Hsia's leadership skills to drive growth in this important segment, which aligns with Hormel's vision of delivering trusted food brands worldwide.
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