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) reported record fourth-quarter fiscal 2021 results, with net sales of $3.5 billion, up 43% year-over-year. Operating income increased by 29% to $358 million, and diluted earnings per share reached $0.51, a 19% rise. For the full fiscal year, net sales were $11.4 billion, up 19%. Despite challenges like labor shortages and inflation, strong growth was seen across all segments, particularly in foodservice with a 72% surge. Guidance for fiscal 2022 expects net sales between $11.7-$12.5 billion and EPS between $1.87-$2.03.
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Columbus Craft Meats has launched three new exclusive charcuterie kits available on its website. The kits, named The Unexpected, Rustic Beauty, and Smoky Vibes, offer unique flavor profiles for a gourmet experience. Each kit is paired with easy-to-follow recipes by Evan Inada, the company's charcuterie director. These offerings aim to enhance social gatherings by making charcuterie accessible while celebrating its culinary art. The brand continues to expand its culinary inspirations with future recipe releases.
The PLANTERS® brand, part of Hormel Foods, collaborates with Reginald VelJohnson to celebrate the holidays with a new music video titled, 'A Nutty Holiday.' This festive production aims to reunite families after a year apart, featuring nostalgic elements and a giveaway of limited-edition 'nutstalgia' gift boxes. Fans can enter for a chance to win these boxes until December 31. Hormel Foods, with over $10 billion in annual revenue and a commitment to community service, continues to innovate its holiday marketing strategies.
Hormel Foods Corporation (NYSE: HRL) announced its annual profit sharing for eligible team members, marking the 83rd consecutive grant. The amount varies yearly based on company performance, with past distributions ranging from $14 million to $17 million. This tradition, initiated in 1938, recognizes the hard work of employees, especially during the pandemic. Hormel Foods, with over $10 billion in annual revenue and a wide portfolio of brands, emphasizes its commitment to rewarding its team and giving back to communities.
Jennie-O Turkey Store collaborated with YouTube star MrBeast to provide 10,000 free turkeys to families in Greenville, N.C., during a recent event. This initiative marks the largest single donation in the company's 80-year history, valued at $266,000, distributing 120,000 servings of turkey. Almost 700 volunteers participated, including local officers and community members. Hormel Foods, Jennie-O's parent company, also contributed with additional product donations. MrBeast emphasized the importance of such partnerships in tackling food insecurity.
The Board of Directors at Hormel Foods Corporation (NYSE: HRL) has announced a 6% increase in the annual dividend, raising it from $0.98 to $1.04 per share. This marks the 56th consecutive annual dividend increase. The first quarterly dividend of $0.26 per share will be paid on February 15, 2022, to shareholders on record by January 18, 2022. Hormel has consistently paid quarterly dividends since going public in 1928, demonstrating a solid commitment to shareholder returns.
Hormel Foods Corporation (NYSE: HRL) announced the recognition of its internship program, ranking No. 84 on Vault's 2022 list of 100 Best Internships. The company also secured key positions in specialized categories, including No. 6 for Sales, Marketing & Communications and No. 9 for Engineering. Over 11,000 interns participated in the survey assessing various aspects of their internship experience. Hormel Foods is currently seeking interns for summer 2022, with opportunities across various facilities. For more information, visit hormelfoods.com/careers.
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Hormel Foods Corporation (NYSE: HRL) announced the recipients of the 2021 Hormel Heroes Scholarships, each valued at $10,000. The program supports military students pursuing degrees in culinary arts or foodservice management. Recipients include Christina Gilman, a U.S. Marine Corps sergeant, and Rose Picard, a U.S. Army veteran. Gilman is studying hospitality management while Picard focuses on baking and pastry arts. Hormel Foods, a global food company with over $10 billion in annual revenue, partners with the National Restaurant Association Educational Foundation to provide this financial aid.