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 reports developments as a global branded food company with a portfolio spanning Planters, Skippy, SPAM, Hormel Natural Choice, Applegate, Wholly, Hormel Black Label, Columbus, Jennie-O and other food brands. Company updates commonly address quarterly earnings, dividends on common stock, product and menu innovation, foodservice offerings, retail launches, and portfolio actions across perishable and shelf-stable foods.
Recent corporate news also reflects Hormel's shift toward value-added proteins, including the completed sale of its whole-bird turkey business while retaining the Jennie-O brand and value-added turkey products. Other recurring themes include food safety and quality leadership, community programs tied to food security, and brand activity in categories such as pizza toppings, sauces, marinades, nut butters and packaged proteins.
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.
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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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The JENNIE-O turkey brand announced the return of its float, The Big Turkey Spectacular, at the 96th Macy's Thanksgiving Day Parade on November 24, 2022. This marks the third consecutive year of participation. The float, measuring 36 feet long, 25 feet wide, and 24 feet tall, features over 200 pounds of glitter and a motion-activated top hat with baby turkey figures. Singer Paula Abdul will perform her hit 'Straight Up' from the float. Throughout November, Jennie-O will provide consumer support for holiday meal planning via its hotline and online resources.
This holiday season, PLANTERS introduces limited-edition nut varieties, including new Butter Cinnamon Pecans and Cocoa Almonds, available at grocery stores nationwide starting November 2022. Customers can enter the brand's 'To All A Good Nut' sweepstakes for a chance to win $10,000 and a visit from the MR. PEANUT character and his Nutmobile by purchasing holiday varieties by Dec. 31, 2022. The initiative aligns with PLANTERS' tradition of being a centerpiece in holiday celebrations, enhancing festive gatherings.
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