AUSTIN, Minn., Sept. 23, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced today that Debbra Schoneman, president of Piper Sandler Companies, has been elected to the Hormel Foods Board of Directors, effective September 21, 2024. Debbra SchonemanDebbra Schoneman "I am delighted to welcome Deb to the Hormel Foods board," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. "She has an impressive background an ...

WHOLLY® GUACAMOLE finds that 50% of football fans say their go-to snack on game day includes guacamole or other types of dips ORANGE, Calif., Sept. 16, 2024 /PRNewswire/ -- In celebration of National Guacamole Day on Monday, September 16, the maker of WHOLLY® GUACAMOLE, America's No. 1 branded refrigerated guacamole*, today announced the results of a new survey that dipped into the trends among football fans' game day rituals. WHOLLY® GUACAMOLE stays ready when you are, whether you're hosting a watch party ...

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The extension of the portfolio includes three new pre-made guacamole flavor varieties, bringing the brand's total to five flavors now available for purchase for foodservice operators. *NEW* WHOLLY® Guacamole Jalapeño Garlic Guacamole (Item #137542) Our chunky, TexMex-Style guacamole is full of flavor with hand-scooped Hass avocados, tomatoes, red onion, cilantro, jalapeño peppers and garlic. *NEW* WHOLLY® Guacamole Serrano Lime Guacamole (Item #137544) Our chunky guacamole leans into its authentic Mexican r ...

Core Viewpoint - Hormel Foods Co. has faced challenges due to declining commodity prices, leading to a reduction in its full-year 2024 guidance, yet investors have shown strong interest in its shares following the earnings report [1][7][9]. Group 1: Company Overview - Hormel Foods is a global branded food company specializing in shelf-stable and refrigerated meat and poultry products, available in various retail and food service locations [1]. - The company was founded in 1891 and gained prominence with the introduction of SPAM in 1937, which remains a significant product in its portfolio [2][3]. Group 2: Financial Performance - In the fiscal third quarter, Hormel reported adjusted earnings of $0.37 per share, exceeding analyst expectations by $0.01 [6]. - Revenue decreased by 2.2% year-over-year to $2.9 billion, falling short of consensus estimates of $2.95 billion, primarily due to lower turkey prices and production disruptions [7]. - The international business saw a 78% year-over-year increase in profits, despite a 13% drop in volume and a 2% decline in net sales [8]. Group 3: Product Innovation and Brand Portfolio - Hormel has expanded its brand portfolio to include various products catering to changing consumer preferences, such as Applegate Natural & Organic Meats and Hormel Black Label Bacon [4]. - Recent product innovations include Hormel Golden Salted Egg Yolk Snackable Sausage and SPAM Korean Barbecue, which have contributed to growth [5]. Group 4: Guidance and Market Outlook - Hormel has narrowed its fiscal full-year 2024 EPS guidance to between $1.57 and $1.63, down from previous estimates, with expected revenue between $11.8 billion and $12.1 billion [9]. - The company anticipates that production disruptions will be resolved by the end of the fiscal year, improving operational capacity [10].

Group 1 - Hormel Foods Corporation is launching PLANTERS® Special Reserve peanuts on September 13, 2024, in celebration of National Peanut Day [1][2][4] - The Special Reserve peanuts are specially grown, hand-cooked, and seasoned, targeting peanut connoisseurs [1][3][4] - These peanuts are harvested from less than 150 acres in Virginia and are larger than standard peanuts, featuring a balanced flavor profile [3][4] Group 2 - The product will be available in a collector's edition box for $19.06, reflecting the year the PLANTERS® brand was founded [4] - A limited quantity will also be sold at Walmart.com and Amazon.com for a suggested retail price of $9.98 [5] - Hormel Foods Corporation, which owns the PLANTERS® brand, has over $12 billion in annual revenue and operates in more than 80 countries [7][8]

Dimensions/E+ via Getty Images Thesis Period: | Quarterly ▼ | Type: | Non-GAAP ● EPS Estimate ● EPS Actual T 0.50 FQ3 2024 0.40 EPS Estimate: 0.36 EPS Actual: 0.37 0.30 0.20 0.10 0.00 FQ3 2023 FQ4 2023 FQ1 2024 FQ2 2024 FQ3 2024 FQ4 2024 (E) FQ1 2025 (E) Hormel Foods Corporation (NYSE:HRL) beat fiscal Q3 carnings, which came in at $0.37 per share, passing expectations of $0.36, but only by a penny. Seeking Alpha Revenue? Not so good. They reported revenue of $2.90B, which was short by $65M and down 2.19% fr ...

Hormel Foods Corporation Conference Call Summary Company Overview - **Company**: Hormel Foods Corporation (NYSE: HRL) - **Date**: September 5, 2024 - **Participants**: Jim Snee (Chairman, President & CEO), Jacinth Smiley (EVP & CFO) Key Industry Insights - **Core Business Strength**: Hormel's underlying core business remains strong across retail, foodservice, and international segments, with notable brand performance in products like Black Label bacon, SPAM, and Applegate [4][19]. - **Foodservice Performance**: The foodservice business is experiencing strong volume and top-line performance, contributing positively to overall results [4][19]. - **International Recovery**: The international business is rebounding, particularly in China and through partnerships in Indonesia, with investments in branded exports also showing growth [4][28][29]. Financial Performance - **Q3 Results**: Hormel reported its third fiscal quarter results, indicating a strong core business despite some known headwinds affecting top-line performance [3][4]. - **Guidance Adjustments**: The company narrowed its guidance but maintained the midpoint, indicating confidence in bottom-line stability despite top-line challenges [5][19]. - **Impact of Disruptions**: Known disruptions, particularly in the Planters brand and turkey business, have impacted financials, with specific guidance adjustments of $0.06 for Q3 and $0.03 for Q4 [12][14][15]. Brand and Product Innovations - **Planters Brand**: The company is focusing on brand innovation and has introduced new products like flavored cashews and Planters Nut Duos, which have successfully attracted younger consumers [9][10]. - **Turkey Business**: Despite being commoditized, turkey remains a significant protein in Hormel's portfolio, with ongoing value-added opportunities [15][16]. - **Consumer Engagement**: Hormel is enhancing consumer engagement through innovative products and marketing strategies, such as collaborations with popular brands like CINNAMON TOAST CRUNCH [41][42]. Transform and Modernize Initiative - **Strategic Initiative**: The "Transform and Modernize" initiative aims to achieve $250 million in operating income by 2026, focusing on supply chain improvements and operational efficiencies [31][33]. - **Investment Focus**: The initiative is expected to unlock significant benefits, particularly in supply chain management, with a focus on integrated business planning and data analytics [31][32]. - **Cultural Integration**: The success of the initiative relies on team member buy-in and cultural integration within the organization [34][35]. Consumer Trends and Market Position - **Consumer Behavior**: The company acknowledges inflationary pressures affecting consumer behavior, emphasizing the need to create value beyond just price reductions [40][41]. - **Market Diversification**: Hormel's diverse market approach includes servicing various channels, from quick-service restaurants (QSR) to non-commercial sectors like K-12 [25][26]. Capital Allocation and Financial Strategy - **CapEx Guidance**: Hormel is targeting approximately $280 million in capital expenditures for the year, maintaining a consistent spending cadence [43][44]. - **Dividend Commitment**: The company remains committed to dividend growth, with a payout ratio of nearly 70% of cash flow, reflecting a strong financial position [46][47]. - **Leverage and Cash Flow**: Hormel's leverage ratio stands at 1.8 times EBITDA, providing flexibility for strategic investments and potential acquisitions [45][46]. Conclusion - **Overall Outlook**: Hormel Foods Corporation expresses optimism about its underlying business health, with strong performance across various segments and a strategic focus on innovation and operational efficiency [48].

Hormel Foods Corporation (NYSE:HRL) Barclays 17th Annual Global Consumer Staples Conference September 5, 2024 9:45 AM ET Company Participants Jim Snee - Chairman, President & CEO Jacinth Smiley - EVP & CFO Conference Call Participants Unidentified Analyst Said - well it works. Good morning. Thanks for joining us. Next on stage, we've got Hormel Foods. With us is Jim Snee, company's CEO, joined back in 1989, as well as Jacinth Smiley, who joined as the CFO back in 2021. The company just reported third fiscal ...

Group 1 - Hormel Foods reported a 2.2% decline in fiscal third-quarter revenue to $2.9 billion, which was below forecasts [1] - The company lowered its full-year revenue guidance to between $11.8 billion and $12.1 billion, down from a previous range of $12.2 billion to $12.5 billion [1] - Diluted earnings per share for the quarter were $0.37, aligning with estimates, while the EPS forecast was narrowed to a range of $1.57 to $1.63 from $1.55 to $1.65 [1] Group 2 - Sales in the retail division fell by 7%, with volumes decreasing by 9%, attributed to lower turkey prices and reduced sales of Planters nut products [1] - The foodservice unit experienced a 7% increase in sales and a 2% rise in volumes [1] - International segment sales decreased by 2%, with volumes dropping by 13% [1]