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Hormel Foods Corp (HRL)

HRL on New York Consolidated

33.23USD
21 Jul 2017
Change (% chg)

$0.30 (+0.91%)
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Latest Key Developments (Source: Significant Developments)

Hormel Foods' Q2 earnings per share $0.39
Thursday, 25 May 2017 06:30am EDT 

May 25 (Reuters) - Hormel Foods Corp :Hormel Foods announces second quarter results and continued margin expansion.Q2 earnings per share $0.39.Q2 sales $2.2 billion versus I/B/E/S view $2.23 billion.Q2 earnings per share view $0.40 -- Thomson Reuters I/B/E/S.Sees FY 2017 earnings per share $1.65 to $1.71.Qtrly grocery products operating profit up 15 percent; volume up 2 percent; sales up 8 percent.Hormel Foods Corp says qtrly specialty foods operating profit down 16 percent; volume down 33 percent; sales down 24 percent.Hormel Foods Corp says qtrly Jennie-O Turkey Store operating profit down 29 percent; volume down 6 percent; sales down 8 percent.Qtrly refrigerated foods operating profit flat; volume down 14 percent; sales down 6 percent.Expect pressure on Jennie-O Turkey Store to continue for remainder of fiscal year given oversupply in turkey industry.FY2017 earnings per share view $1.67 -- Thomson Reuters I/B/E/S.Expect results at Jennie-O Turkey Store to push full-year earnings toward lower end of guidance range.  Full Article

Hormel Foods Q1 earnings per share $0.44
Thursday, 23 Feb 2017 06:30am EST 

Hormel Foods Corp : Hormel foods announces record first quarter results . Q1 earnings per share $0.44 . Q1 sales $2.3 billion versus I/B/E/S view $2.28 billion . Q1 earnings per share view $0.45 -- Thomson Reuters I/B/E/S . Lowers FY 2017 earnings per share view to $1.65 to $1.71 . Hormel Foods Corp - qtrly Jennie-O Turkey Store operating profit down 25 percent . Hormel Foods Corp - company is lowering its fiscal 2017 guidance to $1.65 to $1.71 per share due to challenging market conditions in turkey industry . Hormel Foods Corp - qtrly refrigerated foods operating profit up 4 percent . Hormel Foods-tempering FY outlook for Jennie-O Turkey Store segment due to expected continuation of pricing pressure due to low commodity turkey prices . Hormel Foods Corp - tempering full year outlook for Jennie-O Turkey Store segment also due to given shortfalls in Q1 . Hormel Foods Corp qtrly grocery products operating profit up 1 percent; volume up 4 percent; sales up 7 percent . Hormel Foods Corp - qtrly refrigerated foods volume down 3 percent, Jennie-O Turkey Store volume up 22 percent . Hormel Foods Corp qtrly specialty foods operating profit flat; volume down 30 percent; sales down 19 percent .Hormel Foods Corp - high pork raw material costs continued to impact profitability of china meat business.  Full Article

Hormel Foods CEO Jeffrey Ettinger's FY 2016 total compensation was $12.2 mln
Wednesday, 21 Dec 2016 01:02pm EST 

Hormel Foods Corp : CEO Jeffrey Ettinger's FY 2016 total compensation $12.2 million versus $9.46 million in FY 2015 - sec filing .CFO Jody Feragen's FY 2016 total compensation $4.0 million versus $3.1 million in FY 2015.  Full Article

Hormel Foods reports Q4 earnings per share of $0.45
Tuesday, 22 Nov 2016 06:42am EST 

Hormel Foods Corp: Hormel foods achieves record fourth quarter and full year results . Sees FY 2017 earnings per share $1.68 - $1.74 . Q4 sales $2.6 billion versus i/b/e/s view $2.64 billion . Qtrly grocery products operating profit up 5 percent; volume up 12 percent dollar sales up 16 percent . Qtrly specialty foods operating profit down 10 percent; volume down 29 percent ; dollar sales down 20 percent . Qtrly earnings per share $0.45 . Qtrly refrigerated foods operating profit up 51 percent; volume up 9 percent; dollar sales up 8 percent . Qtrly jennie-o turkey store operating profit up 26 percent; volume up 32 percent; dollar sales up 29 percent . Fiscal 2017 earnings guidance range at $1.68 to $1.74 per share . Qtrly diluted EPS up 22 percent from Non-Gaap adjusted diluted EPS of $0.37 . FY 2017 earnings per share view $1.68 -- Thomson Reuters I/B/E/S .Q4 earnings per share view $0.46 -- Thomson Reuters I/B/E/S.  Full Article

WH Group says unit acquires Clougherty Packing
Monday, 21 Nov 2016 05:05pm EST 

WH Group <0288.HK>: Unit and seller as seller, entered into a definitive agreement . Smithfield conditionally agreed to acquire target companies from seller . Purchase price for target companies is US$145 mln .Seller being Hormel Foods Corporation.  Full Article

Hormel Foods announced a 17 pct increase to annual dividend to shareholders
Monday, 21 Nov 2016 04:45pm EST 

Hormel Foods Corp : Announced a 17 percent increase to annual dividend to shareholders . Annual dividend on common stock of corporation was raised to $0.68 per share from $0.58 per share .Board of directors authorized first quarterly dividend of seventeen cents (17¢) a share to be paid on Feb. 15, 2017.  Full Article

Hormel Foods recommends stockholders reject unsolicited below-market price mini-tender
Wednesday, 28 Sep 2016 04:47pm EDT 

Hormel Foods : Says "recommends that stockholders do not tender their shares because offer price is below company's current share price" . Recommends stockholders reject unsolicited below-market price mini-tender offer by Trc Capital Corporation .Received notice of mini-tender offer made by Trc Capital to stockholders to buy up to 3 million shares of Co at a price of $36.25 per share.  Full Article

Hormel Foods Qtrly EPS $0.36
Thursday, 18 Aug 2016 06:35am EDT 

Hormel Foods Corp : Hormel Foods achieves record third quarter results and raises full year guidance . Raises FY 2016 earnings per share view to $1.60 to $1.64 . Qtrly refrigerated foods operating profit up 24 percent; volume up 3 percent; dollar sales up 9 percent . Qtrly grocery products operating profit flat; volume up 1 percent; dollar sales up 3 percent . Qtrly earnings per share $0.36 . Hormel Foods Corp says increasing our 2016 annual guidance to $1.60 to $1.64 per share from $1.56 to $1.60 per share . Hormel foods corp says expect to show sales and earnings growth in fiscal 2017 . Qtrly record dollar sales of $2.3 billion, up 5 percent; volume up 1 percent . Q3 earnings per share view $0.35, revenue view $2.26 billion -- Thomson Reuters I/B/E/S . Qtrly jennie-o turkey store operating profit up 59 percent; volume up 29 percent; dollar sales up 20 percent . Qtrly specialty foods operating profit down 13 percent; volume down 32 percent; dollar sales down 25 percent . Expects to show sales and earnings growth in fiscal 2017 .FY2016 earnings per share view $1.59 -- Thomson Reuters I/B/E/S.  Full Article

Hormel foods says CFO, JODY H Feragen to retire
Wednesday, 25 May 2016 06:30am EDT 

Hormel Foods Corp : Says james n. Sheehan appointed cfo . Says cfo jody h. Feragen to retire . Jody h. Feragen to retire as executive vice president and cfo a . Sheehan was most recently elected as vice president and chief accounting officer for company .Hormel foods announces chief financial officer retirement and appointment.  Full Article

Hormel Foods Q2 earnings per share $0.40
Wednesday, 18 May 2016 06:45am EDT 

Hormel Foods Corp Qtrly Jennie : Raising fiscal 2016 earnings guidance range from $1.50 to $1.56 per share to $1.56 to $1.60 per share . Qtrly grocery products operating profit up 21 percent; volume down 1 percent; dollar sales up 1 percent . O turkey store operating profit up 20 percent; volume down 5 percent; dollar sales down 4 percent . Qtrly refrigerated foods operating profit up 13 percent; volume up 3 percent; dollar sales up 7 percent . Hormel foods corp qtrly specialty foods operating profit up 74 percent; volume down 2 percent; dollar sales down 5 percent . "we expect international to return to growth in back half of fiscal 2016" . During quarter, "excellent results in refrigerated foods and grocery products were driven by favorable pork operating margins" . International segment was challenged by weak exports and high pork costs in china . International segment "was challenged by weak exports and high pork costs in china" during quarter . Qtrly profit for refrigerated foods increased 13 percent; including applegate, sales were up 7 percent during quarter . Expect international segment to return to growth in back half of 2016 led by export sales of spam family of products,skippy peanut butter . Qtrly jennie-o turkey store sales down 4 percent reflecting volume shortfalls from impact of avian influenza in fiscal 2015 . Hormel foods achieves record second quarter results and raises fiscal 2016 guidance . Q2 earnings per share $0.40.  Full Article

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Unilever vies with Hormel to buy Reckitt food unit: Sunday Times

LONDON Anglo-Dutch conglomerate Unilever is vying with U.S. canned meat producer Hormel Foods Corp to buy the foods division of British consumer goods maker Reckitt Benckiser, the Sunday Times newspaper reported, citing sources.