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) will announce its second quarter financial results on June 2, 2022, prior to market opening. A conference call will follow at 8:00 a.m. CT to discuss the results, featuring Jim Snee, CEO, and Jacinth Smiley, CFO. Investors can listen via webcast at hormelfoods.com. Hormel Foods operates globally, boasting over $11 billion in annual revenue from 80 countries, with a portfolio of renowned brands including SPAM® and SKIPPY®.
The SPAM® brand continues to thrive, achieving record sales for seven consecutive years, with heightened popularity reflected in trendy eateries and events like the Waikiki SPAM JAM® festival. Returning after a two-year hiatus, the festival, held from April 22 to May 1, is expected to attract over 25,000 guests. The brand's cultural significance spans decades, initially supporting troops during World War II. The SPAM® Museum in Austin, Minn., invites fans to connect over its rich history, further showcasing its lasting relevance in the food industry.
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Hormel Foods Corporation (NYSE: HRL) announced it aims to match 100% of its domestic energy use with renewable sources by the end of 2022 as part of its 20 By 30 Challenge. This initiative includes multiple wind and solar energy projects, such as the Western Trails wind project in Texas and a solar array at the Jennie-O Turkey Store plant in Minnesota. Hormel's commitment to green energy aligns with the UN Sustainable Development Goals. The company has received accolades for its corporate responsibility and continues to focus on reducing its environmental footprint.
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Hormel Foods Corporation (NYSE: HRL) discussed emerging pizza trends following its participation in the International Pizza Expo. Brand Manager Anthony Panichelli highlighted five key trends: the rise of plant-based pizza toppings, the use of citrus garnishes, the popularity of fried pizza, unique potato and pizza pairings, and Nashville's growing reputation as a pizza hub. Hormel's Happy Little Plants® pepperoni-style topping offers consumers a flavorful plant-based option, available at notable pizza establishments.
Skippy Foods, LLC is voluntarily recalling 9,353 cases (161,692 pounds) of specific SKIPPY® peanut butter products due to the potential presence of stainless steel fragments. The affected products are Reduced Fat Creamy and Chunky Peanut Butter spreads along with Creamy Peanut Butter Blended With Plant Protein, with specific 'Best If Used By' dates ranging from May 2023. Notably, there have been no consumer complaints related to this recall, and the company is taking precautionary measures to ensure consumer safety.
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Hormel Foods Corporation (NYSE: HRL) announced a quarterly dividend of $0.26 per share, approved by the Board of Directors on March 28, 2022. The dividend will be paid on May 16, 2022, to stockholders of record by April 11, 2022. This marks the 375th consecutive quarterly dividend paid by the company since going public in 1928, demonstrating its commitment to returning income to shareholders and financial stability.
Jennie-O Turkey Store has confirmed the presence of Highly Pathogenic Avian Influenza (HPAI) within its supply chain, affecting one farm in Minnesota. This virus, primarily carried by migratory waterfowl, has already impacted numerous poultry farms across the region. While no cases had been reported in farms supplying Jennie-O until now, the company is taking extensive precautions to protect its turkeys. Collaborating with USDA and local health authorities, Jennie-O reassures consumers that HPAI does not pose a food safety concern.