AUSTIN, Minn., Feb. 2, 2026 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced its participation at the upcoming 2026 Consumer Analyst Group of New York (CAGNY) Conference and confirmed key details for the fiscal 2026 first quarter earnings call. CAGNY Conference The company also invites interested parties to participate in a webcast and conference call with Jeff Ettinger, interim chief executive officer: John Ghingo, president; and Paul Kuehnema ...

Core Insights - Hormel Foods Corporation's international business is crucial for growth, but the fourth quarter of fiscal 2025 showed mixed results with a 6% year-over-year decline in international net sales [1][8] Group 1: Regional Performance - China demonstrated strength with ongoing volume and net sales growth for SPAM and refrigerated products, indicating sustained brand relevance and demand for convenient protein options [2] - Fresh pork exports faced significant declines due to market softness and trade pressures, particularly in Brazil, where competitive intensity affected volumes and pricing [3] Group 2: Volume and Profitability - The international segment's volumes decreased by 8% in the quarter, highlighting the sensitivity of Hormel Foods' overseas business to regional market dynamics [3] - Profitability trends were negatively impacted by high commodity input costs and ongoing challenges in Brazil [3][8] Group 3: Long-term Outlook - Despite near-term challenges, Hormel Foods' established brands, especially in high-growth regions like China, provide a foundation for long-term expansion opportunities [4] Group 4: Stock Performance - Hormel Foods' shares have increased by 1.8% over the past month, outperforming the industry's decline of 0.3% during the same period [5]

Core Insights - Hormel Foods Corporation has appointed Domenic Borrelli as executive vice president of Retail, effective February 23, 2026, to oversee its Retail business unit, which is a significant growth driver for the company [1][6] Group 1: Appointment and Role - Domenic Borrelli will lead the Retail business unit, which includes many of Hormel's well-known consumer brands [1] - John Ghingo, president of Hormel Foods, expressed confidence in Borrelli's ability to drive consumer-driven growth and strategic direction within the Retail unit [1] Group 2: Experience and Background - Borrelli has over 25 years of experience in the food and beverage industry, with a strong track record in managing multi-billion-dollar businesses and leading transformations [1][2] - Prior to joining Hormel, Borrelli was president and general manager of the Beverage Creations business at Danone North America, where he successfully managed a portfolio of brands [2][3] - His previous roles include senior leadership positions at Kraft Foods and Maple Leaf Foods, focusing on marketing and general management [4] Group 3: Education and Affiliations - Borrelli holds an MBA from the Schulich School of Business at York University and a bachelor's degree from York University in Toronto [5] - He has served on the boards of the Organic Trade Association and the National Coffee Association, indicating his involvement in industry organizations [5] Group 4: Company Overview - Hormel Foods Corporation, based in Austin, Minnesota, generates approximately $12 billion in annual revenue and is recognized for its diverse portfolio of brands, including PLANTERS, SKIPPY, and SPAM [6] - The company is a member of the S&P 500 Index and has received various accolades for its corporate responsibility and community service efforts [6]

Company Overview - Hormel Foods Corporation is a global branded food company based in Austin, Minnesota, with approximately $12 billion in annual revenue [7] - The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, recognized for its corporate responsibility and community service efforts [7] Annual Meeting Details - The 2026 Annual Meeting of Stockholders will be held in person on January 27, 2026, at 6 p.m. CST at Austin High School's Richard L. Knowlton Auditorium [1] - Stockholders must present a government-issued photo identification and proof of ownership of the company's common stock to attend the meeting [2] - Doors will open at 5 p.m. CST, and an expedited check-in process is available for pre-registered attendees [3] Question and Answer Session - Following the business portion of the meeting, there will be a question-and-answer session where all questions must be submitted in advance [4] Gift Box Distribution - Registered stockholders can pick up gift boxes at the SPAM® Museum from January 28 to January 31, 2026, while supplies last [5] Meeting Recording - A recording of the 2026 Annual Meeting of Stockholders will be posted on the investor relations website following the meeting [6]

Leadership Changes - Hormel Foods Corporation announced the retirements of Mark Morey and Paul Peil, both long-tenured leaders within the company [1][2] - Mark Morey served at Hormel Foods for over 30 years, holding various roles in sales, marketing, general management, and operations, and was recognized for his customer focus and operational discipline [1][3] - Paul Peil's career at Hormel Foods spans 36 years, where he transitioned from sales to marketing, significantly impacting strategy and customer relationships [1][4] Company Overview - Hormel Foods is a global branded food company based in Austin, Minnesota, with approximately $12 billion in annual revenue [5] - The company is known for its diverse portfolio of brands, including PLANTERS, SKIPPY, SPAM, and JENNIE-O, among others [5] - Hormel Foods is a member of the S&P 500 Index and has received multiple accolades for corporate responsibility and community service [5][6]

Core Insights - Hormel Foods Corporation has appointed Jason Levine as the new chief marketing officer (CMO), a role aimed at enhancing marketing capabilities and accelerating growth strategies [1][3][4] Group 1: Leadership and Experience - Jason Levine brings over 20 years of experience in the consumer packaged goods industry, having previously served as CMO for North America at Mondelz International, overseeing a multibillion-dollar portfolio [2][5] - Levine's background includes significant roles at Kraft Foods Group and PIM Brands, where he led marketing initiatives and innovation strategies [2][5] Group 2: Strategic Focus - The new CMO role will focus on advancing brand strategy, digital capabilities, and creating scalable marketing platforms across various channels and markets [3] - The integration of enterprise business analytics with the Brand Fuel function will enhance the strategic use of data and technology for impactful brand marketing and consumer-driven growth [3] Group 3: Company Overview - Hormel Foods Corporation, based in Austin, Minnesota, generates approximately $12 billion in annual revenue and is recognized for its diverse portfolio of brands, including PLANTERS, SKIPPY, and SPAM [7][8] - The company is a member of the S&P 500 Index and has received numerous accolades for corporate responsibility and community service [7][8]

Financial Data and Key Metrics Changes - For fiscal 2025, the company reported net sales exceeding $12 billion, reflecting a 2% organic growth compared to the previous year, despite falling short of earnings goals [7][13] - Operating income for fiscal 2025 was $719 million, with an adjusted operating income of just over $1 billion, resulting in an operating margin of 5.9% and an adjusted operating margin of 8.4% [17] - Diluted EPS for the full year was $0.87, with adjusted diluted EPS at $1.37; however, the fourth quarter saw a diluted loss per share of $0.10 and adjusted diluted EPS of $0.32 [18] Business Line Data and Key Metrics Changes - The retail segment maintained strong brand positions, with brands like Jennie-O and SPAM contributing to growth, although profitability was pressured due to input cost increases [8][9] - The foodservice segment outperformed the broader industry, leveraging direct sales and innovation, but faced challenges from traffic declines and higher input costs [9] - The international segment's performance varied by geography, with China being a strong contributor, while Brazil posed challenges [9][10] Market Data and Key Metrics Changes - The company experienced over 500 basis points of raw material cost inflation in the fourth quarter, with pork bellies increasing approximately 25% and beef remaining a significant inflationary pressure [14][15] - Turkey supply constraints due to avian illnesses impacted pricing and availability, with expectations of continued challenges into the first half of 2026 [15][16] Company Strategy and Development Direction - The company aims to build on its protein-centric portfolio, focusing on consumer needs and expanding brand capabilities to drive growth [21][22] - Strategic priorities for 2026 include consumer obsession, breaking brand boundaries, and becoming future-ready through portfolio reshaping and technological advancements [23][30] - The Transform and Modernize initiative will continue to support margin expansion and operational efficiency [35][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging consumer environment with elevated inflation and uncertainty, impacting consumer sentiment and spending behavior [76] - The company expects organic net sales growth of 1%-4% and adjusted operating income growth of 4%-10% for fiscal 2026, with a focus on leveraging pricing actions and marketing support [33][34] Other Important Information - The company returned a record $633 million to shareholders in dividends, marking 60 consecutive years of dividend increases [19] - A corporate restructuring resulted in a reduction of approximately 250 positions, aimed at streamlining operations and reallocating resources for growth [10][52] Q&A Session Summary Question: Can you unpack guidance further and discuss key factors? - Management highlighted expectations for organic net sales growth of 1%-4% and emphasized the strength of the protein-centric portfolio and pricing actions to support growth [39][40] Question: What are the expected savings from restructuring? - The restructuring is anticipated to deliver gross savings in the range of two to three times the expected cost to implement, with a quick payback within the first 12 months [52][54] Question: What is the outlook for turkey pricing? - Management indicated that while whole bird prices are expected to remain elevated, the ground turkey business is performing well and is a focus area for growth [50][51] Question: How is the Planters brand recovering? - The Planters brand is back in growth mode, with a 12% increase in dollar consumption and a 13% increase in distribution, although profit recovery is still challenged by mix shifts [58][59] Question: What is the status of the Brazil venture? - The company continues to review its international portfolio, acknowledging that Brazil has been a drag on performance, but remains committed to strategic priorities in other regions [62][64]

Financial Data and Key Metrics Changes - For fiscal 2025, the company reported net sales exceeding $12 billion, reflecting a 2% organic growth compared to the previous year, despite falling short of earnings goals [7][13] - Operating income for fiscal 2025 was $719 million, with an adjusted operating income of just over $1 billion, resulting in an operating margin of 5.9% and an adjusted operating margin of 8.4% [17] - Diluted EPS for the full year was $0.87, with adjusted diluted EPS at $1.37; however, the fourth quarter saw a diluted loss per share of $0.10 and adjusted diluted EPS of $0.32 [18] Business Line Data and Key Metrics Changes - The retail segment maintained strong brand positions, with brands like Jennie-O and SPAM contributing to growth, although profitability was pressured due to input cost increases [8][9] - The foodservice segment outperformed the broader industry, leveraging direct sales and innovation, but faced challenges from traffic declines and higher input costs [9] - The international segment's performance varied by geography, with China being a strong contributor, while Brazil faced challenges impacting growth objectives [9][10] Market Data and Key Metrics Changes - The company experienced over 500 basis points of raw material cost inflation in the fourth quarter, with pork bellies increasing approximately 25% and beef remaining a significant inflationary pressure [14][15] - Turkey supply constraints due to avian illnesses impacted the market, with expectations of continued challenges into the first half of 2026 [15][16] Company Strategy and Development Direction - The company aims to build on its protein-centric portfolio, focusing on consumer needs and expanding brand capabilities to drive growth [21][22] - Strategic priorities for 2026 include consumer obsession, breaking brand boundaries, and becoming future-ready through portfolio reshaping and technological advancements [23][30] - The Transform & Modernize initiative will continue to support margin expansion and operational efficiency, although specific savings will not be reported separately going forward [35][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging consumer environment with elevated inflation impacting performance, but expressed confidence in returning to growth in fiscal 2026 [7][33] - The guidance for fiscal 2026 includes organic net sales growth of 1%-4% and adjusted operating income growth of 4%-10%, with expectations of improved turkey markets and continued pricing actions [33][34] Other Important Information - The company returned a record $633 million to shareholders in dividends, marking 60 consecutive years of dividend increases [19] - A corporate restructuring resulted in a reduction of approximately 250 positions, aimed at streamlining operations and reallocating resources for growth [10][52] Q&A Session Summary Question: Can you unpack guidance further and discuss key factors? - Management highlighted expectations for organic net sales growth of 1%-4% and emphasized the strength of the protein-centric portfolio and pricing actions to support growth [39][40] Question: What are the expected savings from restructuring? - The restructuring is expected to deliver gross savings in the range of two to three times the cost to implement, with a quick payback within the first 12 months [52][53] Question: How is the Planters brand performing? - The Planters brand is back in growth mode, with recent data showing over 12% dollar consumption growth and a 13% increase in distribution [58][59] Question: What is the outlook for the Brazil venture? - Management indicated that the Brazil venture is under review, with a focus on strategic priorities and performance in other international markets like China [62][64] Question: How does the consumer environment factor into the outlook? - The consumer environment is expected to remain strained, with continued value-seeking behavior influencing demand throughout 2026 [75][76]

Financial Data and Key Metrics Changes - For fiscal 2025, net sales exceeded $12 billion, representing a 2% organic growth over the prior year, despite falling short of earnings goals [5][12] - Operating income for fiscal 2025 was $719 million, with an adjusted operating income of just over $1 billion, resulting in an operating margin of 5.9% and an adjusted operating margin of 8.4% [16] - Diluted EPS for the full year was $0.87, with adjusted diluted EPS at $1.37; for the fourth quarter, diluted loss per share was $0.10, while adjusted diluted EPS was $0.32 [17] Business Line Data and Key Metrics Changes - The retail segment faced profitability pressures due to heightened commodity costs, but leading brands like Jennie-O and SPAM maintained strong market positions [6][8] - The foodservice segment outperformed the broader industry, leveraging direct sales and innovation, although it faced challenges from traffic declines and higher input costs [6][8] - The international segment's performance varied, with strong contributions from China but challenges in Brazil impacting overall growth objectives [8][9] Market Data and Key Metrics Changes - The pork market saw a 25% increase in pork bellies and a 10% rise in pork cutouts, while beef remained a significant inflationary pressure throughout the year [12][13] - Turkey supply constraints are expected to continue into the first half of 2026 due to avian illnesses affecting the supply chain [13][14] - The Planters brand experienced a 12% increase in dollar consumption and a 6% increase in volume consumption, indicating recovery in the snack category [58] Company Strategy and Development Direction - The company aims to focus on a protein-centric portfolio, emphasizing consumer needs and expanding brand capabilities to drive growth [20][21] - Strategic priorities for 2026 include consumer obsession, breaking brand boundaries, and becoming future-ready through portfolio reshaping and technological advancements [20][28] - The Transform and Modernize initiative will continue to support margin expansion and operational efficiency [34][35] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging fiscal 2025 but expressed confidence in returning to growth in fiscal 2026, targeting organic net sales growth of 1%-4% and adjusted operating income growth of 4%-10% [32][33] - The consumer environment remains strained, with expectations of continued value-seeking behavior, impacting demand in both retail and foodservice channels [72] - Management highlighted the importance of agility in responding to market volatility and refining processes for better commodity risk management [70] Other Important Information - The company returned a record $633 million to shareholders in dividends, marking 60 consecutive years of dividend increases [18] - A corporate restructuring resulted in a reduction of approximately 250 positions, aimed at streamlining operations and supporting long-term growth [9][51] Q&A Session Summary Question: Can you unpack guidance further and key factors to consider? - Management expects organic net sales growth of 1%-4% and adjusted operating income growth of 4%-10%, driven by pricing actions and enhanced marketing support [39][40] Question: What is the status of portfolio reshaping? - Portfolio reshaping is an ongoing strategic effort to simplify operations and focus on sustainable long-term growth, including exiting non-strategic businesses [42][43] Question: What are the expectations for turkey markets? - Turkey remains a critical business, with expectations for elevated whole bird prices throughout the year, but ground turkey continues to perform well [46][49] Question: What are the expected savings from restructuring? - The restructuring is expected to deliver gross savings in the range of two to three times the expected cost to implement, with a quick payback within the first 12 months [51][52] Question: How is the Planters brand performing? - Planters is back in growth mode, with a 12% increase in dollar consumption and a 13% increase in distribution, although profit recovery is impacted by mix shifts [57][58] Question: What is the outlook for the Brazil venture? - The Brazil venture is under review, with ongoing assessments of the international portfolio to determine strategic fit and performance [62][64] Question: How does the consumer environment factor into the outlook? - The consumer environment is expected to remain challenging, with continued value-seeking behavior influencing demand across channels [72][73]

Core Insights - Hormel Foods Corporation reported solid top-line growth for fiscal 2025, driven by brand relevance and a strong value-added portfolio, but faced profitability challenges due to input cost inflation and discrete items [4][6] - The company is focused on reshaping its earnings trajectory in fiscal 2026 with strategic initiatives aimed at consumer needs and operational excellence [4][5] Fiscal 2025 Results - Net sales reached $12.1 billion, with organic net sales up 2% [7] - Operating income was $719 million, with an adjusted operating income of $1,019 million [7] - The effective tax rate was 28.0%, and diluted earnings per share were $0.87, with adjusted diluted earnings per share at $1.37 [7][13] Fiscal 2026 Outlook - The company expects net sales between $12.2 billion and $12.5 billion, with organic net sales growth of 1% to 4% [6][8] - Adjusted operating income is projected to be between $1.06 billion and $1.12 billion, reflecting a growth of 4% to 10% [8] - Adjusted diluted earnings per share are anticipated to be in the range of $1.43 to $1.51, also indicating growth of 4% to 10% [8] Dividend Growth - Hormel Foods announced a 1% increase in its quarterly dividend, marking 60 years of uninterrupted dividend increases [9] Segment Highlights - Retail segment net sales growth was driven by turkey products, Planters snack nuts, and Applegate products, despite a decline in segment profit due to non-cash impairment charges [12][14] - Foodservice segment saw organic net sales growth from customized solutions and branded offerings, but faced profit declines due to a chicken-product recall and rising input costs [15] - International segment growth was led by SPAM and refrigerated products, although it faced challenges from fresh pork exports and competitive pressures in Brazil [16] Financial Position - Cash flow from operations was $845 million, with total long-term debt at $2.9 billion [7][13] - The company maintained a strong financial position with cash on hand of $671 million and inventories of $1.7 billion at fiscal year-end [13][27]