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Hormel Foods Reports Second Quarter Results

Hormel Foods Corporation today reported results for the second quarter of fiscal 2020. All comparisons are to the second quarter of fiscal 2019 unless otherwise noted.

The impact of the Sadler’s Smokehouse acquisition (March 2020) and the CytoSport divestiture (April 2019) are excluded in the presentation of the non-GAAP measures of organic volume and organic net sales. The impact of the one-time gain associated with the CytoSport divestiture last year is excluded from prior year adjusted pretax earnings and adjusted diluted earnings per share. Operating free cash flow is also presented as a non-GAAP metric.

Executive Summary

  • Volume of 1.2 billion lbs., up 4%; organic volume1 up 7%
  • Record net sales of $2.4 billion, up...
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May 21 8:20 AM, General News



Hormel Natural Choice Lunch Meat Announces New Hardwood Smoked Product Line 

The makers of Hormel Natural Choice premium lunch meat have launched a new line of slow-smoked products called Natural Choice hardwood smoked lunch meats. These expertly crafted products – smoked in netting over real wood chips for over four hours – include exciting flavors like applewood ham, applewood turkey with garlic and herbs, pecanwood ham with sweet black pepper and pecanwood ham with brown sugar.

"We leaned into the real smoke and premium ingredients with this line and are offering consumers that great hardwood smoked flavor, without having to fire up the smoker," said Samantha Hovland, Natural Choice brand manager. "Lunchtime is a busy time for people, so we're helping...

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May 20 8:11 AM, General News


Applegate Farms Unveils Well Carved Product Line

Applegate introduced a new line of organic blended burgers and meatballs designed to satisfy consumers who are mindful of their meat intake. The new, chef-crafted Well Carved product line combines meat with whole vegetables, legumes and grains, and continues the brand’s mission – Changing The Meat We Eat.

“The Well Carved product line is a bold, direct challenge to the newly established wisdom that the only way to eat meat responsibly is to settle for a highly processed soy or pea-based burger—or to not eat meat at all,” said John Ghingo, president of Applegate. “Well Carved products offer a way for consumers to enjoy the real, clean meat they crave along with the vegetables that promote health and a healthier planet.”

To that end, all Well Carved products are made exclusively with organic meat and vegetables, and none of the...

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May 8 9:17 AM, General News


Jennie-O Turkey Store to Reopen Willmar Facility

Jennie-O Turkey Store, Inc., announced that it has reopened its Benson Avenue facility, in Willmar, Minn., following a voluntary pause due to impact of COVID-19 in the area. The company restarted operations yesterday with a core group of team members and plans to ramp up production over the next few days.

Steve Lykken, president of Jennie-O Turkey Store said, “We remain committed to our industry-leading efforts to maintain and enhance safety protections for our team members and this community. We are glad to be reopening this facility and are working on our plans for reopening our other facilities including another location in Willmar and in Melrose, both in Minnesota. We have put the safety of our staff first throughout this pandemic and...

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May 8 9:06 AM, General News


Research and Markets: Global Meat Snacks Market, Forecast to 2025

The global meat snacks market is expected to register a CAGR of 9% during the forecast period, 2019 to 2024.

The market is driven by the increased demand for snacks that are rich in nutrients, such as omega-3s, iron, and vitamin B12. The portable snacks make it a convenient option for consumers requiring healthy meat snacks for on-the-go. The rapid growth of the e-commerce sector will also aid the growth of the market by offering a wide array of meat snacks for online purchase.

Increasing Popularity of Sausages, Globally

Consumers are increasingly purchasing three major varieties of meat snacks, such as jerky, sticks, and sausages. While jerky is popular in North America and Europe, sausages are...

 

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May 5 8:08 AM, General News


Rochelle Foods to Reopen Monday with Industry-Leading Health and Safety Measures

Rochelle Foods, LLC announced that it will reopen as scheduled Monday, May 4, following a 14-day voluntary closure.

The facility, which makes grocery, foodservice and specially-formulated cancer nutrition products, completed testing of its team members last week with the vast majority of them testing negative. Of those who tested positive, numerous people had no noticeable symptoms. During the pause in operations, additional enhanced safety procedures were implemented including deep cleaning of high-touch areas, reconfiguration of common areas and workstations, revised shift scheduling, new guidelines on carpooling and...

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May 4 9:34 AM, General News


Hormel Launches Pepperoni Cup N' Crisp 

The makers of Hormel Pepperoni announced the launch of Hormel Pepperoni Cup N' Crisp, a premium pizza topping uniquely crafted to cup and crisp, bringing high-quality restaurant flavor to kitchen tables everywhere.

Unlike traditional lay flat pepperoni, Hormel Pepperoni Cup N' Crisp curls into a bowl shape as it cooks to crispy perfection. Also known as "roni cups" or "cup and char" pepperoni, Hormel Pepperoni Cup N' Crisp provides an experience that no other retail pepperoni can provide.

"Few things satisfy your senses and capture your attention more than a pepperoni pizza fresh out of the oven," said Shane Ward, Hormel Pepperoni brand manager. "Hormel Pepperoni Cup N' Crisp is intensely flavored and...

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Mar 10 10:13 AM, General News


Hormel Foods Reports First Quarter Results

Hormel Foods Corporation reported results for the first quarter of fiscal 2020. All comparisons are to the first quarter of fiscal 2019 unless otherwise noted. The impact of the CytoSport divestiture is excluded in the presentation of the non-GAAP measures below.

Executive Summary

  • Volume of 1.2 billion lbs., down 1%; organic volume1 up 2%
  • Net sales of $2.4 billion, up 1%; organic net sales1 up 4%
  • Pretax earnings of $290 million, down 5% primarily due to the divestiture of CytoSport
  • Operating margin of 11.8%, compared to...
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Feb 21 8:17 AM, General News


Hormel Foods Announces Acquisition of Sadler's Smokehouse Business

Hormel Foods Corporation announced it has reached an agreement to acquire Texas-based Sadler's Smokehouse. Sadler's Smokehouse is a family-owned business that specializes in premium and authentic pit-smoked meats for retail and foodservice customers. Hormel Foods has been a customer of Sadler's Smokehouse for over two decades.

"Sadler's Smokehouse is a great company with an impressive history, talented team and an outstanding portfolio of on-trend products that resonate with consumers, customers and operators," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "This is a very strategic acquisition for...

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Feb 20 9:55 AM, General News


Burke Corporation Launches New Plant-Based Alternatives

Burke Corp., a subsidiary of Hormel Foods Corporation, announced the launch of new Burke Alternatives plant-based products available to foodservice operators across the country.

“We know that a growing number of consumers are interested in incorporating more plant-based foods into their diets,” said Amy Thielking, marketing manager at Burke. “These new products are the perfect way to not only add more plant options to meals, but also still enjoy a great-tasting meal with plant-based ingredients.”

Powered by pea protein, Burke Alternatives include a fully cooked crumble and uncooked ground products with...

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Feb 11 9:04 AM, General News


Universities Across the Country to Offer Applegate Products to Students 

As thousands of college students head back to campus, some may be happy to return to the dining halls. Long gone are the days of mystery meat and overcooked vegetables on steam tables. In just the last two years, Applegate, the nation’s leading natural and organic meat brand, has appeared in the dining halls (they’re not called cafeterias any more) of more than 25 colleges and universities – from the Ivy League to the Big Ten – as students demand more sustainably-sourced foods.

Applegate brings familiar offerings – deli meat, fresh pork and hot dogs – with the added benefit of clean, non-GMO ingredients, no antibiotics ever and third-party animal welfare certification. And earlier this year, Applegate launched The Great Organic Blend Burger products to offer an option for burger lovers who don’t want to eliminate meat from their diet, but rather reduce their meat consumption for reasons varying from...

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Dec 13 8:20 AM, General News


Hormel Foods Reports Fourth Quarter And Fiscal 2019 Earnings

Hormel Foods Corporation, a leading global branded food company, today reported results for the fourth quarter of fiscal 2019. All comparisons are to the fourth quarter of fiscal 2018 unless otherwise noted. Results reflect the divestiture of the CytoSport business. The impact of this transaction is excluded in the presentation of the non-GAAP measures below.

Executive Summary - Fiscal 2019

  • Volume of 4.74 billion lbs., down 1%; organic volume flat
  • Net sales of $9.50 billion, down 1%; organic net sales up 1%
  • Operating income of $1.20 billion, up 1%
  • Operating margin of 12.6% compared to 12.4% last year
  • Effective tax rate of 19.1% compared to 14.3% last year
  • Diluted earnings per share of $1.80, down 3% from...
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Nov 26 9:37 AM, General News


The Makers of Hormel Cure 81 Ham Introduce New Vermont Maple Spiral Sliced Ham

The makers of Hormel Cure 81 ham announced the launch of its all-new Vermont Maple Spiral Sliced Half Ham, a bone-in, premium ham made with real Vermont maple.

“The new Hormel Cure 81 Vermont Maple Spiral Sliced Half Ham is fully-cooked and perfect for that special occasion, family get-together, or holiday meal,” said Megan Elliott, brand manager at Hormel Foods. “You can trust the Hormel Cure 81 brand to help you deliver an irresistible ham we’re sure everyone will love!”

Handcrafted with the highest standards for taste and texture, Hormel Cure 81 Vermont Maple Spiral Sliced Half Ham comes with authentic Vermont maple flavor baked into the ham along with a tasty glaze packet for added flavor and crunch. Additionally, each ham is...

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Nov 14 9:16 AM, General News


Hormel Foods Announces the Retirement of Tom Day and Executive Advancements 

Hormel Foods Corporation, a global branded food company, announced Tom Day, executive vice president, Refrigerated Foods, will retire effective at the end of the first quarter fiscal 2020. The company also announced the advancement of several executives, including Deanna Brady, who will succeed Day as executive vice president, Refrigerated Foods.

Additionally, P.J. Connor, currently vice president; senior vice president, Consumer Products Sales (CPS), will advance to Brady's current role as group vice president; president, Consumer Products Sales. Tony Hoffman will advance to Connor's current role as vice president; senior vice president, Consumer Products Sales.

Day serves as a member of the executive committee of Hormel Foods, bringing nearly 40 years of strategic leadership to the company. As executive vice president of Refrigerated Foods, Day has led the company's largest segment as well as...

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Oct 25 9:30 AM, General News


The Makers of Hormel Mary Kitchen Hash Announce New Frozen Varieties

The makers of Hormel Mary Kitchen hash, America's No. 1 selling hash, announced today the launch of an innovative meal solution for the frozen breakfast foods aisle – the brand's first offering outside of the can since first coming off the production line 70 years ago.

The new items include two varieties of frozen hash – corned beef hash and turkey sausage sweet potato – and include more than 9 grams of protein in each serving. Made with a hearty blend of quality meats, roasted potatoes, onions, red bell peppers and a touch of select seasonings, Hormel Mary Kitchen frozen hash is sure to satisfy your craving for breakfast.

"Our new Hormel Mary Kitchen frozen hash products are a perfect way to...

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Sep 19 9:02 AM, General News


Hormel Foods Announces the Creation and Launch of Plant-Forward Meat Alternative Brand

During its annual presentation at the Barclays Global Consumer Staples Conference in Boston, Hormel Foods Corporation, a global branded food company, announced the launch of the Happy Little Plants brand, a new plant-forward, protein portfolio created as part of the company's first project under its Cultivated Foods umbrella.

"Hormel Foods has one of the most admired brand portfolios in the industry, led by our legacy of industry-leading innovation," said Jim Splinter, group vice president of corporate strategy at Hormel Foods. "We are continuing to build an organization that has the agility and adaptability to create products to align with today's dynamic marketplace."

The Happy Little Plants brand is part of the company's plant-based and blended protein innovation efforts, which began in 2014 with the launch of...

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Sep 5 8:16 AM, General News


Applegate Battles Lunchtime Boredom with Its “Lunching Awesome” Campaign

Sandwiches. Nearly half of us eat one every day. And no wonder. They’re fast, versatile–travel well and are a go-to Back to School lunch option for parents. With countless sandwich ingredient combinations to explore, no one should have to suffer from a blah lunch. No matter a person’s taste preferences or dietary restrictions, there’s an ultimate sandwich for everyone.

This back-to-school season, Applegate is battling lunch-making boredom with its “Lunching Awesome” campaign, sharing crave-able sandwich recipes and offering a simple sandwich guide that identifies the key components of a great sandwich.

Despite an endless amount of sandwich possibilities, many people make the same sandwich over and over again. And then, there are those who still haven’t found their ultimate sandwich. According to a recent survey conducted by Applegate...

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Aug 28 9:24 AM, General News


Hormel Foods Reports Third Quarter Results

Hormel Foods Corporation, a leading global branded food company, today reported results for the third quarter of fiscal 2019. All comparisons are to the third quarter of fiscal 2018 unless otherwise noted. Results reflect the divestiture of the CytoSport business. The impact of this transaction is excluded in the presentation of the non-GAAP measures below.

Executive Summary

  • Volume of 1.1 billion lbs., down 4%; organic volume down 1%
  • Net sales of $2.3 billion, down 3%; organic net sales flat
  • Pretax earnings of $261 million, up 1%
  • Operating margin of 11.2% compared to 10.9% last year
  • Effective tax rate of 23.6% compared to...
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Aug 22 9:11 AM, General News


Hormel Foods Launches New Single-Serve Lunchmeat

The makers of Hormel® Natural Choice® deli meats announced today the addition of new single-serve lunchmeat options, further expanding the brand's growing portfolio of 100 percent natural deli meats, snacks and bacons made without artificial preservatives or ingredients.

Packaged with 2 ounces – or five slices – of 100 percent natural* deli meat, the new offering provides additional, convenient choices for consumers to enjoy their favorite lunch meat.

"We've received feedback from consumers that smaller households sometimes struggle to get through the entire package of lunchmeat, so we wanted to provide...

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Jul 25 8:27 AM, General News


The Makers of Hormel® Natural Choice® Add Global Inspired Flavors to Snacking Portfolio

The makers of Hormel® Natural Choice® deli meats announced today the addition of two new all-natural* deli meat and cheese snacks to its growing on-the-go snacking line up. The two new flavors are inspired by bold global flavors and offer consumers a delicious and convenient way to snack naturally. 

The newest varieties - Mediterranean style chicken paired with bruschetta jack cheese alongside garlic and herb pita chips; and chipotle chicken paired with queso quesadilla cheese and flax seed corn chips... 

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Jul 9 12:08 PM, General News




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