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 announces the launch of its Happy Little Plants® pepperoni style topping at select Papa Murphy's locations. This new plant-based option caters to the growing consumer demand for healthier food choices without sacrificing taste. Developed in collaboration with chefs and foodservice operators, the topping maintains a traditional pepperoni flavor profile. The launch will occur in cities including Austin, Dallas, and Las Vegas. Hormel continues to expand its plant-based offerings, having introduced the Happy Little Plants® brand in 2019.
The HERDEZ® brand, known as the top-selling salsa brand in Mexico, has launched a new line of refrigerated guacamole featuring authentic flavors and simple ingredients. Debuting in the U.S., the HERDEZ™ Traditional Guacamole line is made with seven ingredients, including Hass avocados and fresh vegetables, and comes in Mild and Spicy varieties. Priced between $2.64 and $5.99, it aims to cater to the growing avocado consumption in American households. This new product will be available nationwide in grocery store deli sections.
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Hormel Foods Corporation will participate in the Barclays Global Consumer Staples Virtual Conference on September 8, 2020, at 2:00 p.m. ET. Key executives, including Jim Snee (CEO) and Jim Sheehan (CFO), will present and engage in a fireside chat. Investors can access the live webcast via the company's website. A replay will be available for 180 days post-event. Hormel, known for brands like SPAM® and SKIPPY®, generates over $9 billion in annual revenue across more than 80 countries.
Hormel Foods has launched the Inspired Pathways program, aimed at providing college education opportunities for the dependent children of its team members. This initiative will commence in the 2021-2022 academic year, partnering with community colleges where the company operates. Designed to be inclusive, it requires only high school graduation and meeting community college entry criteria. The program also includes mentorship and career development support. This follows the success of the Hormel Foundation Austin Assurance Scholarship, affirming Hormel's commitment to educational equality.
Hormel Foods Corporation (NYSE: HRL) reported its third-quarter fiscal 2020 results, showcasing a record net sales of $2.4 billion, up 4% year-over-year. Volume increased by 4% to 1.2 billion lbs., while diluted earnings per share remained flat at $0.37. Despite a 1% decline in pretax earnings to $259 million and an 11% drop in operating margin, cash flow from operations surged by 59%. The company faced approximately $40 million in incremental supply chain costs due to COVID-19. Outlook remains cautious due to uncertain foodservice recovery but anticipates continued strength in retail.
Hormel Foods Corporation (HRL) will release its third quarter financial results on August 25, 2020, before the market opens. A conference call is scheduled for 9:00 a.m. CT (10:00 a.m. ET) to discuss the results, featuring CEO Jim Snee and CFO Jim Sheehan. Investors can access the live webcast on the company's website.
Hormel Foods, based in Austin, Minn., generates over $9 billion in annual revenue, boasting popular brands like SKIPPY and SPAM.
Fontanini Foods, a subsidiary of Hormel Foods (NYSE: HRL), has announced the return of all 150 furloughed employees as part of its recovery strategy. The furlough, initiated on May 4, was a response to challenges in the foodservice sector due to the pandemic. The company has reinstated health benefits during the furlough period. Plant manager Kyle Kuhnke expressed optimism about welcoming back the dedicated workforce. Fontanini is known for its authentic Italian products served in prominent venues, indicating a positive shift as the foodservice industry recovers.
Hormel Foods Corporation (NYSE: HRL) has been recognized as the 21st company on Selling Power's 50 Best Companies to Sell For list, marking the 20th consecutive year for this honor. This accolade highlights Hormel's commitment to providing exceptional benefits and training for its sales team. The ranking considers factors such as compensation, hiring and training, and customer retention. According to Selling Power's founder, this recognition reflects a strong sales culture at Hormel, making it an attractive option for top sales talent.