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) has acquired a 29% minority stake in PT Garudafood Putra Putri Jaya Tbk, a leading food and beverage company in Indonesia, as part of its strategy to enhance its global presence. The deal, which closed on Dec. 15, 2022, strengthens Hormel's partnership with Garudafood, known for its popular brands such as Garuda snacks and Gery biscuits. This investment aims to leverage Garudafood's local market expertise and Hormel's extensive history to accelerate growth in Indonesia and Southeast Asia, particularly in the snacking category.
Hormel Foods reported a 4Q 2022 net sales of $3.3 billion, down 5%, with organic net sales up 2%. The company achieved a fiscal 2022 record net sales of $12.5 billion, a 9% increase, supported by strong demand in U.S. retail. Diluted earnings per share for the quarter remained at $0.51, while fiscal earnings per share rose 10% to $1.82. Despite challenges, the company plans for fiscal 2023 growth, projecting net sales between $12.6 and $12.9 billion.
Hormel Foods Corporation (NYSE: HRL) announced its 84th consecutive annual profit sharing for eligible team members on November 23, 2022. The profit-sharing grant varies yearly based on company performance, with recent distributions ranging from $14 million to $17 million.
CEO Jim Snee emphasized the company's commitment to rewarding employees who contribute to its global success. Established in 1938, this tradition has become a Thanksgiving eve event, reflecting the company's dedication to its workforce and community.
The Jennie-O turkey brand celebrated its partnership with Chef Carla Hall by honoring school cafeteria staff at Panorama High School in Los Angeles on November 17, 2022. This event is part of the School Cafeteria Takeovers initiative, which began in Knoxville, Tennessee. As the first district to serve Jennie-O's No Antibiotics Ever turkey, LAUSD emphasized the importance of nutritious meals for students. The event also featured a baking tutorial and local business support for school cafeteria heroes. Jennie-O serves over 5,000 school districts across the U.S. and is the leading turkey provider in nine of the top ten districts.
Hormel Foods Corporation (NYSE: HRL) has awarded two $10,000 scholarships through its Hormel Heroes Scholarship Program to support students with military backgrounds pursuing careers in culinary arts. Recipients Kristal Qualls, a U.S. Army member studying baking and pastry arts, and Rose Picard, a military veteran completing her studies in applied food studies, received recognition on Veterans Day for their dedication and contributions. Hormel Foods aims to assist veterans in their educational pursuits, reflecting its commitment to the military community.
Hormel Foods CEO Jim Snee Recognized
Hormel Foods Corporation (NYSE: HRL) announced that its chairman and CEO, Jim Snee, was awarded the 2022 Responsible CEO of the Year by 3BL Media for his transformative leadership. This recognition highlights Hormel's commitment to environmental, social, and governance (ESG) initiatives, especially in equity in education and food security. The award was presented on October 25, 2022, during the Brands Taking Stands forum in New York City. Hormel Foods continues to receive accolades for its ESG efforts, underscoring its role in fostering community well-being.
Hormel Foods Corporation (NYSE: HRL) will host a conference call on November 30, 2022, to discuss its fourth quarter and full-year financial results. The earnings press release will be issued before the market opens that day. Jim Snee, the CEO, and Jacinth Smiley, the CFO, will lead the call at 8 a.m. CT (9 a.m. ET). Investors can access the webcast and additional information on the company's investor website.
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