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Hormel Foods Corp (HRL.N)

HRL.N on New York Stock Exchange

35.66USD
11:50am EDT
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Latest Key Developments (Source: Significant Developments)

Hormel Foods Q1 Earnings Per Share $0.56
Thursday, 22 Feb 2018 06:30am EST 

Feb 22 (Reuters) - Hormel Foods Corp ::HORMEL FOODS ANNOUNCES RECORD FIRST QUARTER RESULTS AND INCREASES GUIDANCE DUE TO TAX REFORM.Q1 EARNINGS BENEFITED FROM $63 MILLION, OR EPS OF $0.12, IN ONE-TIME TAX EVENTS.SEES FY 2018 EARNINGS PER SHARE $1.81 TO $1.95.QTRLY JENNIE-O TURKEY STORE NET SALES DOWN 7%‍​.QTRLY REFRIGERATED FOODS VOLUME DOWN 8%; NET SALES UP 5%; SEGMENT PROFIT DOWN 18%.Q1 EARNINGS PER SHARE $0.56.QTRLY JENNIE-O TURKEY STORE SEGMENT PROFIT DOWN 27%‍​.Q1 SALES ROSE 2 PERCENT TO $2.3 BILLION.QTRLY INTERNATIONAL & OTHER VOLUME UP 14%; NET SALES UP 19%; SEGMENT PROFIT DOWN 3%.QTRLY JENNIE-O TURKEY STORE VOLUME DOWN 4%‍​.SEES 2018 NET SALES $9.70 BILLION - $10.10 BILLION.FY2018 EARNINGS PER SHARE VIEW $1.73, REVENUE VIEW $9.88 BILLION -- THOMSON REUTERS I/B/E/S.QTRLY GROCERY PRODUCTS NET SALES UP 1% ‍​.QTRLY GROCERY PRODUCTS VOLUME DOWN 1%.QTRLY GROCERY PRODUCTS SEGMENT PROFIT UP 8% ‍​.HORMEL FOODS - RAISE OUR STARTING WAGE FOR ALL EMPLOYEES TO $13 PER HOUR BY END OF FISCAL 2018 AND TO $14 PER HOUR BY END OF FISCAL 2020.Q1 EARNINGS PER SHARE VIEW $0.44, REVENUE VIEW $2.41 BILLION -- THOMSON REUTERS I/B/E/S.FY2018 EARNINGS PER SHARE VIEW $1.73, REVENUE VIEW $9.88 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Hormel Foods CEO James Snee's FY 2017 Total Compensation Was $6.3 Mln Vs $3.5 Mln In FY 2016
Wednesday, 20 Dec 2017 08:35am EST 

Dec 20 (Reuters) - Hormel Foods Corp ::HORMEL FOODS CORP SAYS CEO JAMES SNEE'S FY 2017 TOTAL COMPENSATION WAS $6.3 MILLION VERSUS $3.5 MILLION IN FY 2016 - SEC FILING.  Full Article

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

RPT-INSIGHT-Corporate America’s new dilemma: raising prices to cover higher transport costs

(Repeats with additional reporting credit) By Eric M. Johnson and Chris Prentice SEATTLE/BOCA RATON, Fla., Feb 26 The drive for cost cuts and higher margins at U.S. trucking and railroad operators is pinching their biggest customers, forcing the likes of General Mills Inc and Hormel Foods Corp to spend more on deliveries and consider raising their own prices as a way to pass along the costs. Interviews with executives at 10 companies across the food, con