Hormel Foods(US:HRL) Prnewswireยท2025-10-29 10:45Leadership Appointment - Hormel Foods Corporation appointed Paul Kuehneman as interim chief financial officer and controller effective October 27, 2025, reporting to interim CEO Jeff Ettinger [1][3] - Kuehneman has over 30 years of experience at Hormel Foods, holding various leadership roles, including vice president and controller [2] - He succeeds Jacinth Smiley, who is leaving the company for other opportunities [3][4] Fourth Quarter Update - Hormel Foods anticipates strong top-line results for the fiscal 2025 fourth quarter, driven by sustained demand across retail, foodservice, and international businesses [5] - Key contributors to growth include the turkey portfolio, PLANTERS brand, and strong market positions [5] - The company is facing persistent inflation in key commodity inputs and impacts from avian influenza and pneumoviruses in the poultry industry [6] Operational Challenges - A fire at the Little Rock, Arkansas peanut butter production facility was contained with no injuries, and full production is expected to resume early in fiscal 2026 [7] - The company issued a voluntary class 1 recall for certain chicken products sold in foodservice channels [7] - Hormel Foods expects net sales growth for the quarter toward the top end of previous guidance, but adjusted earnings per share are projected to be approximately $0.08 to $0.09 below prior expectations [8] Future Outlook - The company is not reaffirming its previously issued GAAP earnings per share guidance pending year-end financial closing procedures, which may include non-cash impairment charges [8] - Hormel Foods remains confident in its portfolio and brands, aiming for long-term sustainable growth despite recent inflationary pressures and operational disruptions [9] - A comprehensive review of the fourth quarter and full-year results, along with the fiscal 2026 outlook, will be provided in early December [10]