Hormel Foods Corp Stock Price, News & Analysis

Justin's, a leader in healthy food products, announced a $15,000 match donation to Conscious Alliance during Hunger Action Month. This initiative, aimed at combating food insecurity, allows supporters to double their contributions, potentially raising a total of $30,000. Justin's, which has partnered with Conscious Alliance for nearly 15 years, hopes to raise awareness and encourage community involvement in addressing hunger. In 2021, Justin's donated over $15,000 and more than 4,100 meals to similar organizations. The collaboration reflects Justin's commitment to corporate social responsibility.

Hormel Foods reported record net sales of $3.0 billion for Q3 2022, marking a 6% increase year-over-year. The company achieved operating income of $291 million, a 40% rise, with a new operating margin of 9.6%.

Despite challenges like inflation and supply chain issues, diluted earnings per share rose 25% to $0.40. Hormel updated its full-year net sales guidance to between $12.2 billion and $12.8 billion, while earnings guidance was lowered to $1.78 to $1.85.

Hormel Foods Corporation (NYSE: HRL) has launched its 16th annual Global Impact Report, detailing progress on its ESG goals for fiscal 2021. Highlights include the introduction of the 20 By 30 Challenge, aiming to meet 20 sustainability goals by 2030, renewable energy initiatives, and extensive animal care audits. The company reported $8.5 million in donations, contributing to hunger relief and educational programs. Hormel has been recognized as a responsible corporate citizen, achieving various awards for its efforts in sustainability and community support.

Justin's, a leader in real food products, announces its continued partnership with the National Honey Board's Honey Saves Hives campaign for the third year, aimed at educating consumers on the vital role of honey bees in our food system. The company highlights its 2021 Corporate Social Responsibility (CSR) Report, showcasing $61,000 donated for pollinator conservation, a 30% reduction target in plastic usage by 2022, and over $40,000 in donations for food system education. The report reflects Justin's commitment to sustainable practices and enhancing consumer awareness of honey bees.

Hormel Foods Corporation (NYSE: HRL) is transitioning to a new strategic operating model, effective October 31, 2022, to enhance agility and customer focus. The company will restructure into three segments: Retail, Foodservice, and International, each tailored to meet market demands and foster growth. This change is designed to strengthen brand leadership and expand global presence, supported by a new center of excellence called Brand Fuel. Hormel aims to report earnings under this model starting Q1 fiscal 2023, with no impact on historical financials.

Hormel Foods Corporation (NYSE: HRL) will announce its third-quarter financial results on September 1, 2022, with a related conference call scheduled for 8:00 a.m. CT. The leaders of the company, Jim Snee and Jacinth Smiley, will also speak at the 2022 Barclays Global Consumer Staples Conference on September 6, 2022, at 3:30 p.m. CT. Hormel Foods, based in Austin, Minn., generates over $11 billion in annual revenue and boasts a portfolio of over 30 well-known brands.

Hormel Foods has launched a social media contest in collaboration with musician Sammy Arriaga to find the crunchiest CORN NUTS kernel. The winner will not only have their crunch featured in a soundtrack performed live by Arriaga but also receive concert tickets and a cash prize of $5,000. The contest opened on July 26, 2022, and will close on August 3, 2022. Participants must create a 30-second TikTok video using Arriaga's sound and include #contest. CORN NUTS products are available at convenience stores and grocery retailers nationwide.