Edition:
United States

Hormel Foods Corp (HRL.N)

HRL.N on New York Stock Exchange

36.99USD
12 Dec 2017
Change (% chg)

$0.00 (+0.00%)
Prev Close
$36.99
Open
$36.98
Day's High
$37.12
Day's Low
$36.76
Volume
891,270
Avg. Vol
726,982
52-wk High
$38.00
52-wk Low
$29.75

Latest Key Developments (Source: Significant Developments)

Hormel Foods Closes Columbus Manufacturing Deal, Raises Fiscal 2018 Outlook
Monday, 27 Nov 2017 06:07pm EST 

Nov 27 (Reuters) - Hormel Foods Corp ::HORMEL FOODS ANNOUNCES CLOSING OF ACQUISITION OF COLUMBUS MANUFACTURING INC, MAKER OF COLUMBUS CRAFT MEATS.‍INCREASING ITS FISCAL 2018 NET SALES GUIDANCE TO $9.7 - $10.1 BILLION​.‍INCREASING ITS EARNINGS PER SHARE GUIDANCE TO $1.62 - $1.72 PER SHARE FOR FISCAL 2018​.FY2018 EARNINGS PER SHARE VIEW $1.64, REVENUE VIEW $9.76 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Hormel Foods announces merger of its Grocery Products and Specialty Foods segments
Tuesday, 21 Nov 2017 06:31am EST 

Nov 21 (Reuters) - Hormel Foods Corp :Hormel Foods announces the strategic merger of its Grocery Products and Specialty Foods segments.Hormel Foods - ‍specialty Foods segment been merged into Grocery Products segment,will continue to be led by Luis Marconi, group VP, Grocery Products​.  Full Article

Hormel Foods reports Q4 ‍diluted EPS of $0.41​
Tuesday, 21 Nov 2017 06:30am EST 

Nov 21 (Reuters) - Hormel Foods Corp ::Q4 revenue $2.5 billion.Hormel foods announces full year and fourth quarter results and provides guidance for fiscal 2018.Q4 revenue view $2.42 billion -- Thomson Reuters I/B/E/S.Hormel foods corp qtrly ‍diluted eps of $0.41​.Hormel foods corp - sees ‍fiscal 2018 net sales guidance $9.40 billion - $9.80​ billion.Hormel foods corp - sees ‍fiscal 2018 earnings per share guidance $1.60 - $1.70​.Hormel foods corp qtrly ‍ specialty foods volume down 8%; organic volume down 1%​.Hormel foods corp qtrly ‍ specialty foods net sales down 9%; organic net sales down 2%​.Hormel foods corp - qtrly ‍grocery products volume down 4%, organic volume up 4%​.Hormel foods corp qtrly ‍jennie-o turkey store volume down 7%; organic volume flat​.Hormel foods corp - qtrly ‍grocery products net sales down 1%, organic net sales up 7%​.Hormel foods corp qtrly ‍jennie-o turkey store net sales down 10%; organic net sales down 4%​.Hormel foods corp - ‍qtrly refrigerated foods volume down 17% , organic volume up 1%​.Hormel foods corp - ‍qtrly refrigerated foods​ net sales down 6% , organic net sales up 8%.Hormel foods - ‍fiscal 2018 net sales and eps guidance exclude pending acquisition of columbus craft meats, which is expected to close in december​.Hormel foods corp - ‍columbus craft meats transaction is expected to be 2-3 cents per share accretive to earnings in fiscal 2018​.  Full Article

Hormel Foods announces increase to annual dividend
Monday, 20 Nov 2017 04:30pm EST 

Nov 20 (Reuters) - Hormel Foods Corp ::Hormel Foods announces 52nd consecutive increase to annual dividend.Hormel Foods Corp - ‍annual dividend on common stock of Corporation was raised to $0.75 per share from $0.68 per share​.Hormel Foods Corp - ‍board of directors authorized first quarterly dividend of eighteen and three fourths cents a share to be paid on Feb. 15, 2018​.  Full Article

Hormel Foods chairman Jeffrey Ettinger to retire
Wednesday, 27 Sep 2017 06:30am EDT 

Sept 27 (Reuters) - Hormel Foods Corp :Hormel Foods announces the retirement of Jeffrey M. Ettinger as chairman of the board. Jim Snee, Hormel Foods president and CEO, elected as chairman.Hormel Foods - Board elected Jim Snee to be company's next chairman of board, effective November 20, 2017, adding to Snee's current responsibilities as CEO.  Full Article

Hormel Foods reports Q3 EPS $0.34
Thursday, 24 Aug 2017 06:30am EDT 

Aug 24 (Reuters) - Hormel Foods Corp :Hormel Foods announces third quarter results and continued progress towards key strategic initiatives.Q3 earnings per share $0.34.Q3 sales $2.2 billion versus I/B/E/S view $2.24 billion.Q3 earnings per share view $0.37 -- Thomson Reuters I/B/E/S.Lowers FY earnings per share view to $1.54 to $1.58.Qtrly refrigerated foods operating profit up 15 percent; volume down 16 percent; sales down 6 percent.‍"We expect continued earnings pressure from higher input costs for key raw materials such as Bellies, Pork Trim, and Beef Trim"​.Qtrly grocery products operating profit up 10 percent; volume up 4 percent sales up 6 percent.‍"In face of a challenging year"​.FY2017 earnings per share view $1.65 -- Thomson Reuters I/B/E/S.  Full Article

Hormel Foods adds to its growing international portfolio with the acquisition of the Ceratti Brand
Thursday, 24 Aug 2017 06:30am EDT 

Aug 24 (Reuters) - Hormel Foods Corp :Hormel Foods adds to its growing international portfolio with the acquisition of the Ceratti Brand.Hormel Foods says ‍purchase price was approximately $104 million​.  Full Article

Hormel Foods adds to its foodservice portfolio with the acquisition of Fontanini Italian Meats and Sausages
Thursday, 17 Aug 2017 08:30am EDT 

Aug 17 (Reuters) - Hormel Foods Corp :Hormel Foods adds to its foodservice portfolio with the acquisition of Fontanini Italian Meats and Sausages.Hormel Foods Corp - ‍Transaction was structured as an asset sale with a purchase price of $425 million​.Hormel Foods Corp - ‍Has acquired Fontanini Italian Meats and Sausages from Capitol Wholesale Meats Inc​.Hormel Foods Corp - ‍Fontanini will continue operations out of facility in Chicago metropolitan area and will report into refrigerated foods segment​.  Full Article

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

BRIEF-Hormel Foods Closes Columbus Manufacturing Deal, Raises Fiscal 2018 Outlook

* HORMEL FOODS ANNOUNCES CLOSING OF ACQUISITION OF COLUMBUS MANUFACTURING INC, MAKER OF COLUMBUS CRAFT MEATS