$HRL (Hormel Foods Corporation)

$HRL {{ '2016-08-18T13:32:33+0000' | timeago}} • Webcast

$HRL said its effective tax rate in 3Q16 was 28.6% versus 35.6% in 3Q15. The rate was favorably impacted by $14MM of one-time discrete tax items associated mainly with an international entity restructuring. For the full year 2016, the company expects its effective tax rate to be between 32.0-32.5%, including the one-time discrete items from 3Q16.

$HRL {{ '2017-09-27T14:17:34+0000' | timeago}} • Announcement

$HRL, a branded food company, said Jeffrey Ettinger will retire as Chairman of the Board. Jim Snee, CEO and President of Hormel Foods, will assume the post of Chairman of the Board on November 20, 2017. Snee Became the CEO in October 2016, after serving the company as President and COO since October 2015.

$HRL {{ '2017-08-24T19:01:44+0000' | timeago}} • Webcast

$HRL's Jennie-O Turkey store is under pressure due to low Turkey markets aand increased competition and expense. During 3Q17, the segment reported 20% drop in its earnings, while sales and volume dropped 9% and 7% respectively. This decrease was due to lower production levels.

$HRL {{ '2017-08-24T18:52:48+0000' | timeago}} • Webcast

$HRL does not plant to operate the newly acquired company,Fontanini Italian Meats and Sausages as an independent subsidiary, but plans to integrate it into Refrigerated Foods operations groups and the sales force into the foodservice division.

$HRL {{ '2017-08-24T18:10:58+0000' | timeago}} • Infographic

$HRL Hormel Foods Earnings AlphaGraph: Q3 2017 Highlights.

$HRL {{ '2017-08-24T11:46:30+0000' | timeago}} • Announcement

$HRL said it acquired Cidade do Sol, a value-added meats company in Brazil. The acquired company offers over 70 products under the brand name Ceratti. The purchase price was approx. $104MM. This acquisition marks the company's first entry into South America.

$HRL {{ '2017-08-24T11:34:20+0000' | timeago}} • Announcement

$HRL slashed its outlook for FY17, due to high commodity price volatility. The company cut its earnings guidance to the range of $1.54-1.58 per share from the low end of $1.65-1.71 per share.

$HRL {{ '2017-08-24T11:28:43+0000' | timeago}} • Announcement

Food and meat products manufacturer $HRL reported a drop in its 3Q17 earnings to $182.5MM, or $0.34 per share, from $195.6MM, or $0.36 per share during 3Q16. The results reflect the divestiture of the Diamond Crystal Brands business and the Farmer John business. Revenues fell 4.1% YoY to $2.21Bil. Volume was down 9%.

$HRL {{ '2017-08-18T19:03:28+0000' | timeago}} • Announcement

Branded food company $HRL has appointed Lisa Selk as CEO of its sports nutrition subsidiary CytoSport. Previously, Selk worked as Marketing Director for a portfolio of brands at Hormel Foods. She joined the company in 1998 as a food scientist in the research and development department, and later held various leadership roles.

$HRL {{ '2017-08-17T16:04:56+0000' | timeago}} • Announcement

$HRL acquired Fontanini Italian Meats and Sausages, a branded foodservice business, from Capitol Wholesale Meats Inc. Fontanini will continue operations out of their facility in the Chicago metropolitan area and will report into the Refrigerated Foods segment. The transaction was structured as an asset sale with a purchase price of $425MM.

$HRL {{ '2017-05-25T13:33:22+0000' | timeago}} • Webcast

$HRL's CapEx for 2Q17 totaled $39MM compared to $66MM a year ago. The company expects CapEx to be approx. $190MM in FY17. $HRL does not expect material changes in prices until the industry starts to cut back production. This price assumption is based on current inventory and production levels.

$HRL {{ '2017-05-25T13:23:01+0000' | timeago}} • Webcast

$HRL said that for 2Q17, three of the company's five segments reported earnings growth. Refrigerated Foods, International and Grocery Products grew earnings, while Specialty Products earnings were down 16%. For 2H17, $HRL expects percentage decline in earnings for Jennie-O Turkey Store to be in the high teen.

$HRL {{ '2017-05-25T10:54:45+0000' | timeago}} • Announcement

$HRL maintained its FY17 EPS guidance of $1.65-1.71, but expects the results at Jennie-O Turkey Store to push its full-year earnings toward the lower end of this range. The company expects the pressure on Jennie-O Turkey Store to continue for the remainder of the year given the oversupply in the turkey industry.

$HRL {{ '2017-05-25T10:54:30+0000' | timeago}} • Announcement

$HRL reported a decline in 2Q17 earnings due to divestiture of the Diamond Crystal Brands business, the divestiture of the Farmer John business, and the acquisition of Justin's LLC. Net income fell to $210.9MM or $0.39 per share from $215.4MM or $0.40 per share last year. Sales declined to $2.19Bil from $2.3Bil.

$HRL {{ '2017-02-23T15:15:07+0000' | timeago}} • Webcast

$HRL's Refrigerated Foods (RF) 1Q17 operating profit rose 4%, with sales and volume down 3%. The company expects RF results to be better than projected for the remaining three quarters. Specialty Foods (SF) operating profit was flat YonY, while sales was down 19% & volume down 30%. However, SF is expected to perform better than projected for FY17.

$HRL {{ '2017-02-23T15:09:49+0000' | timeago}} • Webcast

$HRL stated it will continue to make investments throughout its business in 2017, including additional investments in bio-security. $HRL added that the additional investment is to protect the company's business from an avian influenza outbreak.

$HRL {{ '2017-02-23T14:59:48+0000' | timeago}} • Webcast

$HRL said that its Jennie-O Turkey Store segment had a tough 1Q17 YonY, with earnings down 25%. However, sales were up 13% and volume was up 22% compared to a year ago. The decline in profit in Jennie-O Turkey Stores was impacted by declining turkey prices, increased expenses and increased competition.

$HRL {{ '2017-02-23T12:02:04+0000' | timeago}} • Announcement

$HRL expects improvements in its other segments to offset some of the earnings headwinds from Jennie-O Turkey Store for FY17. The company said the balanced model it has intentionally built in business will allow $HRL to overcome the challenges at Jennie-O Turkey Store.

$HRL {{ '2017-02-23T12:00:46+0000' | timeago}} • Announcement

Citing to challenging market conditions in the turkey industry, $HRL lowered its FY17 EPS guidance to $1.65-1.71 from $1.71-1.77. $HRL said it is tempering full-year outlook for the Jennie-O Turkey Store segment given shortfalls in 1Q and the expected continuation of pricing pressure due to low commodity turkey prices.

$HRL {{ '2017-02-23T11:56:31+0000' | timeago}} • Announcement

$HRL reported a rise in 1Q17 earnings driven by higher interest and investment income and lower interest expense. Net income rose to $235.3MM or $0.44 per share from $235.17MM or $0.43 per share last year. Net sales declined 1% to $2.28Bil. Adjusted sales increased 3%.

$HRL {{ '2017-02-03T13:18:20+0000' | timeago}} • Announcement

$HRL said Mark Coffey, VP of affiliated business units in Refrigerated Foods, will assume the role of VP of supply chain, and Mark Morey, former president of its previous Farmer John business, will assume the role of VP of affiliated business units in Refrigerated Foods.

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