Lynn Egner to assume the role of Vice President of Foodservice sales Natosha Walsh moves to Vice President of Retail sales – West AUSTIN, Minn., Feb. 3, 2025 /PRNewswire/ -- Hormel Foods Corporation (NYSE:HRL), a Fortune 500 global branded food company, today announced sales executive moves for its Retail and Foodservice business segments. Lynn Egner will move to the role of vice president of Foodservice following David Weber's recent advancement to group vice president, Foodservice. Natosha Walsh will move ...

AUSTIN, Minn., Jan. 30, 2025 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced the upcoming retirement of Mark Ourada, group vice president, Foodservice, following 37 years of dedicated service and leadership. Throughout his nearly four-decade-long career with the company, Ourada has played an active role in the successful development and evolution of the $3.8 billion Foodservice business segment. He was also instrumental in the PLANTERS® brand integr ...

AUSTIN, Minn., Jan. 21, 2025 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced it will virtually host its 2025 Annual Meeting of Stockholders. The meeting is open to all registered stockholders or beneficial owners of the company's common stock at the close of business on Nov. 29, 2024. A live webcast of the meeting, virtualshareholdermeeting.com/HRL2025, will begin at 6 p.m. CST on Tuesday, Jan. 28, 2025, with registration on the meeting site b ...

Core Points - Hormel Foods Corporation announced the retirement of Brian Johnson, vice president and corporate secretary, after a 30-year career with the company [1] - Johnson has been recognized for his expertise, sound judgment, integrity, and dedication, contributing significantly to Hormel Foods and the Austin, Minnesota community [1] - Hormel Foods generates approximately $12 billion in annual revenue and operates in over 80 countries, with a diverse portfolio of well-known brands [3] Company Overview - Hormel Foods is a global branded food company with a strong presence in the market, recognized as a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats [3] - The company has received multiple accolades for its corporate responsibility and community service efforts, including being named one of the best companies to work for and one of America's most responsible companies [3] - Hormel Foods' purpose statement is "Inspired People. Inspired Food.™," reflecting its commitment to delivering trusted and iconic brands globally [3] Brian Johnson's Background - Johnson joined Hormel Foods in 1995 as a corporate attorney and progressed through various roles, becoming vice president and corporate secretary in 2010 [2] - He holds a Bachelor of Science degree from Minnesota State University, Mankato, and a J.D. degree from the University of Minnesota Law School, graduating magna cum laude [2] - Johnson is a member of several professional organizations, including the Minnesota State Bar Association and the Society for Corporate Governance [2]

The company, along with joint-venture MegaMex Foods — the makers of WHOLLY® GUACAMOLE, LA VICTORIA®, HERDEZ®, and CHI-CHI'S® salsa — partner to deliver assistance to communities where team members live and workAUSTIN, Minn., Jan. 17, 2025 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, is committed to supporting disaster relief efforts across Southern California as wildfires continue to impact communities. The company has donated cash and products valued at m ...

CEO Transition - Hormel Foods CEO James Snee plans to retire at the end of fiscal 2025 after 36 years with the company, including 8 years as CEO [1][2] - A search committee has been formed to identify Snee's successor [1] - Snee will remain with the company as a strategic advisor for 18 months following his departure [1] Financial Outlook - Hormel Foods maintains its fiscal 2025 outlook, projecting full-year net sales of $11.9 billion to $12.2 billion [2] - The company expects earnings per share (EPS) of $1.51 to $1.65 for fiscal 2025 [2] Stock Performance - Hormel Foods shares were down 1% on Tuesday morning [2] - The company's stock has declined approximately 6% over the past year [2]

Leadership Transition - James P Snee, chairman of the board, president and CEO of Hormel Foods, will retire at the end of fiscal 2025 after a 36-year career with the company [4] - The Board has formed a search committee to identify Snee's successor, considering both internal and external candidates [4] - Snee will serve as a strategic advisor to the Board through the end of fiscal year 2025 and for 18 months thereafter once his successor is named [4] - Snee continues to be a candidate for election to the Board at its 2025 Annual Meeting of Stockholders, scheduled for January 28, 2025 [3] Company Performance and Initiatives - Under Snee's leadership, Hormel Foods grew its protein-centric brands through acquisitions in Retail, Foodservice and International segments, including PLANTERS, FONTANINI and CERATTI [1] - Snee launched critical initiatives for long-term success, including reorganization of the operating model and the Transform & Modernize for growth initiative [1] - The company announced its 59th consecutive year of annual dividend increases in November 2024 [1] - The company's fiscal 2025 performance outlook remains unchanged [3] Company Overview - Hormel Foods Corporation is a global branded food company with approximately $12 billion in annual revenue across more than 80 countries [2] - The company's brands include PLANTERS, SKIPPY, SPAM, HORMEL NATURAL CHOICE, APPLEGATE, JUSTIN'S, WHOLLY, HORMEL BLACK LABEL, COLUMBUS, JENNIE-O and more than 30 other brands [2] - Hormel Foods is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats [2] - The company has received numerous awards and accolades for corporate responsibility and community service efforts [2]

Vici Properties - Vici Properties is a REIT focused on experiential properties, with over 95% of its rents coming from casino assets, making it a casino REIT [2] - The company successfully navigated the coronavirus pandemic, even increasing its dividend during that time, and has an average remaining rent term of over 40 years with tenants [3] - 90% of its rent roll is covered by leases with CPI-linked rent increases, and the stock's drop has pushed its dividend yield up to 5.8%, making it attractive for income-focused investors [4] Coca-Cola - Coca-Cola is a globally recognized beverage company with a leading soda brand and a diverse product portfolio including coffee, sports drinks, and energy drinks [5] - The company is a Dividend King, having increased its dividends annually for 62 years, with a current yield of 3.1% [6] - Coca-Cola's valuation metrics, such as price-to-sales and price-to-earnings ratios, are below their five-year averages, suggesting it is fairly priced or slightly cheap [7][8] Hormel Foods - Hormel is a Dividend King in the consumer staples sector, currently trading with a historically high yield of 3.6%, near its highest levels in recent history [9] - The stock is down 15% from its 52-week high and over 40% from its three-year high, reflecting market concerns about rising costs, slow recovery in China, avian flu, and weakness in its Planters business [10] - Despite challenges, Hormel has a strong track record of product innovation, which could help address some of its issues, though avian flu remains a broader industry challenge [11][12] Market Overview - Despite the overall market being near all-time highs, there are still opportunities in dividend stocks, with Vici Properties offering a high yield and growth potential, Coca-Cola being a reliable dividend stock, and Hormel priced as a turnaround play [14] - Each of these stocks presents a unique opportunity for investors, whether they are looking for income, value, or long-term growth [15]

When I look at my brokerage account, there is one stock that stands out as particularly disappointing performance-wise: Hormel Foods (HRL -1.25%). And yet, I haven't once thought of jettisoning it from my portfolio. Here's why I still love Hormel despite the fact that it is my worst performer.Hormel Foods has a good core businessEven good companies go through difficult times. That's a key part of my investment approach, as I specifically try to find what are often called fallen angels. Hormel, specifically, ...

Customer Concentration - The Company reported that sales to its largest customer, Walmart Inc., accounted for approximately 16% of consolidated gross sales during fiscal 2024[31]. - The top five customers collectively represented about 37% of consolidated gross sales during fiscal 2024[31]. Employee Information - As of October 27, 2024, the Company had approximately 20,000 active employees, with over 90% located in the U.S.[19]. - Approximately 50% of the Company's team members had five or more years of service as of October 27, 2024[22]. Patents and Intellectual Property - The Company holds 22 U.S. patents and eight foreign patents as of October 27, 2024[34]. Sustainability Efforts - The Company has set aspirational goals to improve sustainability efforts, including reducing greenhouse gas emissions and organic waste[30]. Risk Management - The Company utilizes futures, swaps, and options contracts to hedge a portion of its anticipated purchases to manage input cost risks[17]. - The Company is exposed to various forms of market risk, including commodity price risk and foreign currency exchange rate risk[235]. Financial Position - The Company's long-term debt had a fair value of $2.5 billion as of October 27, 2024, down from $2.7 billion as of October 29, 2023[237]. - The net asset position in foreign currencies increased to $1.2 billion as of October 27, 2024, compared to $1.1 billion as of October 29, 2023[238]. - The balance of corporate-owned life insurance policies classified as trading securities totaled $209.7 million as of October 27, 2024, up from $188.2 million as of October 29, 2023[239]. Financial Performance - Net sales for the fiscal year ended October 27, 2024, were $11,920,797, a decrease of 1.57% from $12,110,010 in the previous year[270]. - Gross profit increased to $2,022,138, up 1.5% from $1,999,841 year-over-year[270]. - Operating income slightly decreased to $1,067,932, compared to $1,072,046 in the prior year, reflecting a decline of 0.2%[270]. - Net earnings attributable to Hormel Foods Corporation were $805,038, an increase of 1.9% from $793,572 in the previous year[270]. - Basic and diluted net earnings per share both increased to $1.47, up from $1.45 year-over-year[270]. - Comprehensive income attributable to Hormel Foods Corporation was $813,959, up from $776,881, an increase of 4.8%[272]. Asset Management - Total current assets decreased to $3,246,476 from $3,297,249, a decline of 1.54%[274]. - Total assets slightly decreased to $13,434,729 from $13,448,772, a decline of 0.1%[274]. - Cash and cash equivalents increased to $741,881 from $736,532, a slight increase of 0.5%[274]. Debt Management - Long-term debt increased to $2,850,944 from $2,358,719, reflecting a rise of 20.8%[274]. - The company repaid $959.017 million in long-term debt during the fiscal year ending October 27, 2024[278]. Dividends and Shareholder Returns - The company declared dividends of $1.13 per share for the fiscal year ending October 27, 2024, compared to $1.10 per share in the previous year[276]. Impairment and Asset Valuation - The Company recorded no material impairment charges for long-lived or definite-lived assets in fiscal years 2024, 2023, or 2022[297]. - In fiscal 2023, the Company recorded a $28.4 million intangible asset impairment charge for the Justin's trade name[310]. - The carrying amount of goodwill decreased to $4,923.5 million as of October 27, 2024, from $4,928.5 million as of October 29, 2023, primarily due to the divestiture of Hormel Health Labs[344]. Revenue Recognition - The Company recognizes revenue at the point in time when performance obligations have been satisfied, typically when the ordered product is received or picked up by the customer[320]. Research and Development - Research and development expenses for fiscal years 2024, 2023, and 2022 were $36.1 million, $33.7 million, and $34.7 million, respectively, showing a year-over-year increase in R&D investment[327]. Investment Activities - The Company completed the divestiture of Hormel Health Labs for a preliminary purchase price of $25.0 million, resulting in a pre-tax gain of $3.9 million recognized in the Consolidated Statements of Operations[342]. - The Company acquired a 30% stake in PT Garudafood Putra Putri Jaya Tbk for $425.8 million, enhancing its presence in Southeast Asia[351]. Inventory Management - Total inventories decreased to $1.58 billion as of October 27, 2024, from $1.68 billion a year earlier, a decline of 6.2%[355]. Pension and Retirement Plans - The Company had $1.3 billion in plan assets related to defined benefit pension plans as of October 27, 2024, including $87.3 million in private equity and real estate funds[264]. - The net periodic cost for defined benefit plans was $44,334,000 for the fiscal year ended October 27, 2024, compared to $37,413,000 for the year ended October 29, 2023, reflecting an increase of 18.5%[374]. - The benefit obligation at the end of the year for pension plans was $1,339,726,000 as of October 27, 2024, compared to $1,174,380,000 as of October 29, 2023, showing a rise of 14.1%[375]. Accounting and Reporting - The Company maintained effective internal control over financial reporting as of October 27, 2024, as confirmed by independent auditors[246]. - The consolidated financial statements present fairly the financial position of the Company at October 27, 2024, in conformity with U.S. generally accepted accounting principles[258]. - The audit of the Company's internal control over financial reporting was conducted in accordance with PCAOB standards, resulting in an unqualified opinion[259].