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 (NYSE: HRL) has launched its largest summer internship program, welcoming 83 students from nearly 50 colleges across the U.S., despite the ongoing COVID-19 pandemic. The 10-week program, initiated on June 1 and concluding on August 6, offers paid positions averaging 40 hours per week. Hormel's internship program boasts an 85% conversion rate of interns to full-time employees. Notably, it ranked 38th in Vault's 2021 Best Internships and has received accolades for its excellence in various internship categories.
The MR. PEANUT® character is relocating to Hormel Foods in Minnesota, marking the PLANTERS® brand's new chapter. To celebrate, the character is donating a total of $100,000 to 10 local charities, awarding $10,000 each to support impactful community initiatives. Events will include a welcoming gathering on July 15, featuring celebrity appearances and promotional activities. Hormel Foods, known for brands like SKIPPY® and SPAM®, aims to engage the community and highlight local heroes throughout the summer. The NUTMOBILE™ will tour Minnesota to further promote these efforts.
Hormel Foods Corporation (NYSE: HRL) has been recognized as No. 17 on Selling Power's 50 Best Companies to Sell For list, marking the 21st consecutive year of publication. This accolade highlights the company’s commitment to world-class benefits and training programs. Hormel emphasizes a culture of inclusion and talent development, backed by effective sales professionals. The ranking evaluated companies on compensation, sales culture, onboarding, and training strategies. Hormel Foods operates globally, generating over $9 billion in annual revenue.
The Natural Choice® brand launched the 2021 Good Feeds Us All Tour in partnership with BBQ expert Moe Cason, providing donations and free sandwich samples of its new hardwood smoked lunch meat. The tour, running until July 16, features events at various community organizations across the U.S., including Cub Foods locations in Minnesota. Cason emphasizes that the lunch meats are crafted using traditional methods. Natural Choice® products are 100% natural, with no preservatives or artificial ingredients, aimed at offering convenient meal solutions to families.
The makers of Natural Choice are collaborating with BBQ expert Moe Cason for the 2021 Good Feeds Us All Tour, aimed at supporting communities in need. Kicking off on June 23, 2021, the tour will visit cities like St. Paul, Des Moines, and Kansas City, featuring free public sampling events and donations. Cason’s signature sandwich made with Natural Choice hardwood smoked lunch meats will be showcased. The tour runs until July 16 and emphasizes community connections while offering wholesome meal solutions.
Hormel Foods Corporation (NYSE: HRL) has announced a donation of 100,000 meals to hunger organizations while hosting its eighth virtual Concert of Hope & Thanks on June 8, 2021. This initiative builds upon the more than $1 million donated and millions of meals provided since the pandemic began. The concert features artists such as David Shaw and Judith Hill and aims to support community needs through organizations like Conscious Alliance. Hormel has pledged over $50 million to hunger-relief in the last five years and continues to engage its team of 20,000 globally.
Hormel Foods Corporation has finalized its acquisition of the Planters® snacking portfolio from Kraft Heinz, marking its largest purchase to date. This deal includes popular brands such as NUT-rition®, Cheez Balls, and Corn Nuts®, along with three production facilities. The acquisition is part of Hormel's strategy to expand its snacking offerings and enhance its brand portfolio, which also features SKIPPY® and SPAM®. Hormel's leadership anticipates significant growth potential for the Planters® brand fueled by its marketing and sales capabilities.
Sadler's Smokehouse has launched a new line of ready-to-eat pit-smoked barbeque products, including beef brisket, pulled pork, pulled chicken, and St. Louis ribs, available at select retailers this summer. The products are prepared using premium butcher-quality cuts, Texas hardwoods, and 65 years of barbeque tradition. Retail prices range from $9.99 for pulled pork to $15.99 per pound for beef brisket. The initiative aims to provide authentic Texas barbeque flavors without the hassle, enhancing convenience for BBQ enthusiasts.
Hormel Foods Corporation (NYSE: HRL) has declared a quarterly dividend of 24.50 cents per share, set for payment on August 16, 2021. Stockholders of record by July 12, 2021 will receive this payment, marking the 372nd consecutive quarterly dividend since 1928. Hormel Foods, a global leader in branded food with annual revenues exceeding $9 billion, continues to honor its commitment to returning value to shareholders through its uninterrupted dividend history.
Hormel Foods Corporation (NYSE: HRL) reported a strong second quarter for fiscal 2021, achieving record net sales of $2.6 billion, a rise of 8% year-over-year. Despite a 3% decrease in volume to 1.2 billion lbs, pretax earnings increased by 2% to $293 million, while diluted earnings per share remained flat at $0.42. The company also raised its full-year sales guidance to between $10.20-10.80 billion, reaffirming its EPS guidance of $1.70-$1.82. However, operating margin fell to 11.1% from 12.1%.