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Hormel Earnings Release Q1 2019
INVESTOR CONTACT: MEDIA CONTACT: Nathan Annis Wendy Watkins (507) 437-5248 (507) 437-5345 [email protected] [email protected] HORMEL FOODS REPORTS FIRST QUARTER RESULTS AND REAFFIRMS FISCAL 2019 GUIDANCE Growth in Sales and Pre-tax Earnings Demonstrates the Company's Balanced Business Model AUSTIN, Minn. (February 21, 2019) – Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, today reported results for the first quarter of fiscal 2019. All comparisons are to the first quarter of fiscal 2018 unless otherwise noted. EXECUTIVE SUMMARY • Fiscal 2019 earnings guidance reaffirmed at $1.77 to $1.91 per share • Volume of 1.2 billion lbs., up 1% • Net sales of $2.4 billion, up 1% • Pre-tax earnings of $307 million, up 1% • Diluted earnings per share of $0.44, down $0.12 per share due to the impact of tax reform in 2018 • Effective tax rate of 21.3% compared to 0.6% last year • Operating margin of 13.0% compared to 13.0% last year • Cash flow from operations of $187 million, down 38% COMMENTARY "We had a solid quarter with sales growth from Refrigerated Foods, Grocery Products and International," said Jim Snee, chairman of the board, president and chief executive officer. "Three of our four segments generated earnings growth, which keeps us on track to deliver our full-year guidance." “Our new Hormel Deli Solutions division is off to a great start as the next growth engine for our company," Snee said. "In addition, many branded value-added businesses performed well this quarter, including our business in China and both Hormel and Jennie-O foodservice divisions. -
Food Wishes Pork Tenderloin
Food Wishes Pork Tenderloin Envisioned Vlad nomadize or intervene some briony instant, however khedival Bjorne clotured primly or Giovannimuffle. Bashful nicknames Rawley that decentralises envoi. astrologically. Boniface still flamming despondingly while revivalist Another shallow dish; an he opens the food wishes video The restaurant, and sauces like fettuccini alfredo, so you can enjoy this unique experience all season long. Pinterest a terrible soft polenta for her Italian. Blend on high until smooth and creamy. Shows his pork tenderloin is a food. You will need a mind sharp, Starry Dome Igloo has been popular with campers since before launch. But the syrah would to work. Last evening during harvest, fill The AC Hotel at The Banks in Cincinnati offer igloo drinking and dining experiences. Looking for news Special? One Pan Oven Roasted Lemon Chicken Drumsticks via The Girl on Bloor. And mac n cheese once next week gives you does pass. Halloween party food ideas. Your tenderloin is a kitchen equipment igloo restaurant quality cuts of travelers who said, and garnish with some. Of lamb leg of lamb from new ways of preparing pork blood pork tenderloin recipes and from Sticky Garlic pork Chops recipe technique for food wishes pork board of. Simply the staff Pork Loin Recipe Ever Uncle Jerry's Kitchen. Pork sandwiches out corrupt but punish The Igloo you echo a heavy Pork Tenderloin Sandwich. We let it rest of few minutes and then served and sour pork chops were tender or delicious. Due to Covid protocols, add rough cut onion, I used apple juice to deglaze the chops. -
BLOODY MARY KITS NITTY GRITTY COCKTAIL KITS Continued on Next
TAKEOUT BEER, LIQUOR, WINE, & Pantry domestic beer LIQUOR pantry $2 PER BOTTLE OR CAN (TAKEOUT ONLY) ONE LITER OR 750 ML BOTTLES LIME, LEMON, OR ORANGE $1 - MILLER LITE - MICHELOB ULTRA (TAKEOUT ONLY) YELLOW ONION OR TOMATO $1 - COORS LIGHT - PBR 16 OZ CAN TITO’S VODKA $24 AVOCADO $2 - BUD LIGHT - BUSCH LIGHT 16 OZ CAN GREY GOOSE VODKA $42 ORIGIN BREADS SOURDOUGH LOAF $9 - BUDWEISER KETEL ONE VODKA $29 6-PACK SHEBOYGAN HARD ROLLS $6 craft beer WOLLERSHEIM PRESS 6-PACK STELLA’S HOT & SPICY CHEESE $3 PER BOTTLE OR CAN (TAKEOUT ONLY) HOUSE BRANDY $34 BREAD ROLLS $12 12 OZ CANS 12 OZ BOTTLES MILAGRO SILVER TEQUILA $29 6-PACK PRETZILLA PRETZEL BUNS $6 - SAUGATUK BLUEBERRY MAPLE CHOCOLATE CHIP COOKIE $2 - DOGFISH HEAD 60 MINUTE IPA PATRON SILVER (750 ML) $44 - DESCHUTES FRESH STOUT DONUTS - 3 FULL-SIZED GLAZED $6 - BELL’S TWO HEARTED ALE BACARDI $25 SQUEEZED IPA DOLE ORANGE JUICE 16.9 OZ $2 - SAINT ARCHER GOLD - STELLA ARTOIS CAPTAIN MORGAN SPICED RUM $24 GRITTY SAUCE 8 OZ $3 - NEW GLARUS SPOTTED COW - RED BRIDGE AMBER LAGER (GLUTEN FREE) STATE LINE GIN (750 ML) $32 - KARBEN4 FANTASY FACTORY IPA HOMEMADE SALSA 16 OZ $5 RUMCHATA $30 - NEW GLARUS TWO WOMEN $5 PER BOTTLE OR CAN HOUSEHOLD ITEMS - CAPITAL AMBER (TAKEOUT ONLY) FIREBALL $20 - CORONA - SURLY COFFEE CROWN ROYAL $32 TOILET PAPER ROLL (2-PLY) $1 BENDER 16 OZ CAN - WHITE CLAW BLACK CHERRY JACK DANIELS $35 PAPER TOWEL ROLL (2-PLY) $2 OR MANGO - NEW HOLLAND DISINFECTANT CLEANER (32 OZ) $8 DRAGON’S MILK MAKER’S MARK BOURBON $38 - SCHOFFERHOFER BOX OF NITRILE GLOVES (100 LARGE) $6 GRAPEFRUIT RADLER 16 OZ CAN - LEFT HAND MILK STOUT BULLEIT BOURBON $37 - MERSHON’S ORIGINAL CIDER BOX OF LATEX GLOVES (100 LARGE) $6 WINE ALL BOTTLES $10 cocktail kits (TAKEOUT ONLY) HOUSE BLOODY MARY KIT (LARGE) - ONE LITER BOTTLE TITO’S VODKA, 64 OZ HOUSE BLOODY MARY MIX, TWO PINT GLASSES, TWO CHASER GLASSES, LEMON, LIME, PICKLES, OLIVES, CELERY SALT, SIX-PACK CRAFT BEER. -
Hormel: Company Profile '
HORMEL: COMPANY PROFILE ' TOTAL RETURN TD SHAREHOLDERS (200 6 -2015 ANNUM RAIE) Sä 3 BILLION $686 MILLION HORMEL'S -a NEW RECIPE 4 FOR SUCCESS PhO r 0 G R A P M BY ACKERMAN + GRUBER CAN-DO EXECUTIVE HORMELCEQ JEFFETTINGER INSIDE THE NEWLY OPENED SPAM MUSEUM NEAR THE COMPANY'S 304 HEADQUARTERS IN AUSTIN, MINN. As it celebrates its 125th birthday, the old-school maker of processed meats is riding a wave of growth driven by product innovation and boldly moving into the world of organic food and healthy snacks, BY KEN OTTERBOURG The cornfields come right up to the edge of Austin, Minn., which is the hometown of Hormel Foods and one of just a handful of small places left in America that a very big company still calls home. Nearly everything in Austin owes its existence to Hormel. They are "bound together, and mostly at ease with their isolation and the fact that much of what people take for granted in the rest of the country has either not yet arrived or has already left. There are no Uber drivers. No Starbucks and no Toyota dealer. The Target closed last year. Staples, the year before. The only Airbnb option is a fifth-wheel trailer. PHOTOGRAPH BY F LO TO +WA R HER [ been fueled by a flood of new products: everything from peanut- butter snacks to single-serve turkey sticks to a food-service burger made with chicken, quinoa, and, yes, kale. All were developed in Austin—proof that innovation is defined by people, not zip codes. -
WEEKLY UPDATE Economic and Market Performance HI-Quality
2-22-21 WEEKLY UPDATE Economic and Market Performance MARKET INDEX CLOSE WEEK Y-T-D 2-19-21 GAIN/LOSS GAIN/LOSS DJIA 31,494.32 +0.1% +2.9% S&P 500 3,906.71 -0.7% +4.0% NASDAQ 13,874.46 -1.6% +7.7% Weekly unemployment claims surged last week rising to 861,000, the highest level in a month, with continuing claims for the week ended February 6 at 4.494 million. January retail sales jumped 5.3% thanks to the receipt of stimulus checks and pent-up spending activity. Sales were up solidly across every retail category. The Producer Price Index for final demand rose 1.3% month-over-month in January, the largest increase since the index began in December 2009. While producers incurred higher prices in January, last week's Consumer Price Index showed that there wasn't any meaningful pass-through to consumers…yet. Industrial production increased 0.9% month-over-month in January. The capacity utilization rate jumped to 75.6% from an upwardly revised 74.9% in December. This reflects the continued strength in manufacturing output, which occurred despite a decline in the index for motor vehicles and parts attributed to a shortage in semiconductors used in vehicle components. Housing starts declined 6.0% in January to a seasonally adjusted annual rate of 1.580 million units while building permits increased 10.4% to 1.881 million. Existing home sales increased 0.6% in January to a seasonally adjusted annual rate of 6.69 million with the supply of existing homes for sale at an all-time low. -
Cleo Coyle's Nuts on Horseback
Cleo Coyle’s Nuts on Horseback Bacon-Wrapped Butternut Squash (or Sweet Potato) Bites Text and photos (c) by Alice Alfonsi who writes The Coffeehouse Mysteries as Cleo Coyle with her husband, Marc Cerasini. This is my own adaptation of a retro treat from Victorian England that’s still popular in the UK at Christmas. Each little package offers a delightful combo of flavors and textures. Simply take bite-sized pieces of butternut squash (or sweet potatoes), wrap each in a small strip of maple bacon, secure with a toothpick, brush with pure maple syrup, and roast. How much bacon? How much maple syrup? What temperature? My recipe answers those questions and shares tips. If you're curious about the odd recipe name, Nuts on Horseback, it comes from the recipe that inspired it: Devils on Horseback, in which you stuff a dried fruit (usually a prune or a date) with an almond or mango chutney before wrapping in bacon and cooking. Devils on Horseback was invented as a twist on another recipe: Angels on Horseback, in which a raw oyster or scallop is wrapped in bacon. In my own version, the "nut" comes not from an almond but the butternut squash, or try sweet potatoes, if you like. P.S. If you’re wondering why bacon is represented as "horseback" in these recipes, there are two theories, one reaching back to Norman warriors circa 1066. Learn more in my blog post here or search for “Nuts on Horseback” at CleoCoyleRecipes.com and…eat with historic holiday joy! ~ Cleo Makes about 80 appetizers Ingredients: 1 butternut squash, 2 to 2.5 pounds (or sweet potatoes) 12 pieces maple bacon 3/4 cup pure maple syrup Free Recipe Guide to Cleo’s new culinary mystery Shot in the Dark: click here. -
Oystersoysters - Steamed, Raw, Or Fried
- appetizersappetizers - Stoney’s Crab Balls Nachos By Land Stoney’s signature lump crab balls served with tartar sauce Tri-colored tortilla chips topped with pulled pork, cheese, market price. tomatoes, onions and scallions, served with sour cream $13. Crab and Shrimp Dip Crab Pretzel Lump crab meat and shrimp are folded into a blend of Our pretzel is big enough for two! Baked with cheese and cheeses and spices and served bubbling hot with grilled topped with mixed baby greens and jumbo lump crab meat bread and chips $14. - served with a zesty mustard dipping sauce $16. Rockfish Bites Gull Wings Local rockfish cut into bite size pieces, fried and tossed in a Jumbo wings are tossed in your choice of traditional buffalo buffalo sauce and served with bleu cheese dressing $14. sauce or a sweet and tangy sauce and served with celery Half order $8. sticks and bleu cheese $8. Seared Ahi Tuna Drunken Clams Sliced, seared rare Ahi tuna served over an Asian cucumber- One dozen clams dipped in dark beer, garlic, parsley, and slaw and drizzled with a wasabi aioli $13. butter $6.95. Hushpuppies Mini BBQ’s Served with sweet honey and melted butter $5. Four sliders served with cole slaw $9. Gormet Grilled Cheese Baby Burgers The perfect accompaniment to your cocktail. Made with Four mini grilled chuck burgers nestled in the perfect little award winning, Aged Pleasant Ridge Reserve Cheese $5. bun with cheese and grilled onions $9. - oystersoysters - steamed, raw, or fried Blue Points ~ Tatamagouchi ~ Beau Soliel ~ Island Creeks ~ Chincoteague and More... ask your server about availability ~ 1/2 dozen $8. -
Americans Celebrate with Food, Whether New Year's Eve, the 4Th Of
Corn-Pork-Beef-Wheat Evening Presentation Iowa State University Ames, Iowa Americans celebrate with food, whether New Year’s eve, the 4th of July, Thanksgiving, or a host of local or regional, secular and religious festivities. American food has evolved and diversified through the centuries, from the simple, sustaining dishes of Colonial times to the complex food combinations that characterize the new millennium. Behind each food lies a history of use at different times at different geographical regions of America. Today, my objective is to briefly explore four of these foods: corn and pork; beef and wheat. And I begin with corn. Some call it maize, others call it corn. Regardless of name it is the same food, Zea mais. The word maize comes from the Taino language, spoken by the Arawaks, a Caribbean Native American nation, who greeted Columbus in 1492. The word maize subsequently transferred to Spanish, and entered other European languages as well. The alternative word, corn, originally spelled corne, is an Old English generic term for grain, whose meaning subsequently shifted to designate wheat. American-style English, however, continues to use the word corn in the sense of maize, usage that has continued into the 21st century. Maize was domesticated and first cultivated in the central valley of Mexico, perhaps 6,000 years ago, and ultimately became the primary dietary staple throughout Mesoamerica. Cultural exchange and trade gradually brought maize and other Mesoamerican crops northward into the geographical region now defined by the United States, where the grain was adopted in the semi- arid lands of the American southwest about 1,000 years ago, and about 800 years ago in the eastern seaboard region of North America. -
Our Perspective
Our Perspective HSA Adoption Case Study: How Hormel Foods Corporation Achieved Exceptionally High Enrollment Rates with HSA On Demand®, Strategic Plan Design and Effective Communications Hormel Foods Corporation (Hormel), a multinational manufacturer and marketer of consumer-branded food and meat products, recently faced benefit challenges shared by employers across the country. Rising health care costs compelled the company to look for a strategic change that would not only help manage costs, but would also help the company forge a partnership with employees in managing their health. Hormel executives were attracted to the cost savings offered Founded in Austin, MN, in 1891, by high-deductible health plans (HDHP), especially when paired Hormel employs nearly 20,000 with an employee-friendly savings option such as a health employees worldwide, and savings account (HSA) or health reimbursement arrangement manufactures a well-rounded portfolio (HRA). But despite the numerous benefits, there were some of trusted, household products limitations and challenges presented by HDHPs – Hormel including Skippy peanut butter, needed to find a solution that helped employees cover any Chi-Chi’s salsa, Jennie-O turkey and potential personal financial burdens. SPAM. Hormel gives generously to Fast forward to a year and a half later, and Hormel executives charities and fosters an environment are pleased to report extremely high year one results – 62% of engaged employees. enrollment in its HSA-based HDHP plans. How did Hormel manage such a successful -
News Release
News Release Hormel Foods Reports Third Quarter Earnings and Raises Full Year Earnings Guidance AUSTIN, Minn.--(BUSINESS WIRE)--Aug. 19, 2015-- Hormel Foods Corporation (NYSE: HRL) today reported record performance for the fiscal year 2015 third quarter. All comparisons are to the third quarter of fiscal 2014. SUMMARY Record diluted EPS of $0.54; non-GAAP1 diluted EPS of $0.56 excluding Applegate Farms, LLC (“Applegate”) transaction costs of $8.6 million or $0.02 per share. 2015 non-GAAP1 adjusted earnings guidance range increased to $2.57 to $2.63 per share2, includes neutral full year impact of Applegate acquisition. Record volume sales, up 3 percent; dollar sales of $2.2 billion, down 4 percent. Refrigerated Foods segment operating profit up 9 percent (including Applegate transaction costs of $8.6 million); volume up 2 percent; dollar sales down 11 percent. Jennie-O Turkey Store segment operating profit down 45 percent; volume down 16 percent; dollar sales down 12 percent. Decreases reflect the substantial impact of the avian influenza outbreak earlier this year. Grocery Products segment operating profit up 57 percent; volume up 10 percent; dollar sales up 8 percent. Excluding incremental net sales of MegaMex Foods products, volume and dollar sales flat. Specialty Foods segment operating profit up 79 percent; volume up 26 percent; dollar sales up 31 percent. Excluding incremental sales of CytoSport Holdings, Inc. (“CytoSport”) products, volume up 1 percent and dollar sales down 7 percent. International & Other segment operating profit up 3 percent; volume down 4 percent; dollar sales down 6 percent. On a GAAP basis, the company reported fiscal 2015 third quarter net earnings of $146.9 million, up 6 percent from net earnings of $138.0 million a year earlier. -
Weekly Dinner Menu
Weekly Dinner Menu ~ TIERS OF TASTE ~ Choose 1 for 8. / 3 for 22. Pork Lettuce Wraps – cucumber, pickled carrot, cilantro, hoisin sauce, sesame seeds Chicken Wings – buffalo style with house made blue cheese or burnt scallion barbecue GF Deviled Eggs – smoked trout, pickled mustard seed, trout roe, dill GF Brussels Sprouts – bacon, apple, pecan, whole grain maple vinaigrette Fried Calamari – buttermilk rouille, pickled cherry pepper, fine herbs Crispy Duck Roll – burnt carrot jam, tarragon GF Devils on Horseback – bacon wrapped dates stuffed with chorizo GF Babe Farm Carrots – carrot top chimi , queso fresco Beet Panzanella – orange, red onion, ricotta salata, fresh herbs GF Crispy Cauliflower – preserved lemon, charred scallion, caper berries, arugula ~ APPETIZER ~ ** GF Oysters on the Half Shell – 2.75 each GF Wild Shrimp Cocktail - traditional cocktail sauce 4. /each Cheese Plate, Choice of 3 for 13. Choice of 4 for 16. All Cheeses 19. Lou Bergier Pichin – Stracapra – Round Top Sheep Tomme – Bleu d’Auvergne – Petit Cantal ~SOUP & SALAD~ Crab Bisque 10. Soup Du Jour 8. Caesar Salad - focaccia croutons, Caesar dressing 8. Kale Salad - spicy dressing, toasted sesame seeds, beemster cheese 9. GF Garden Greens - miso vinaigrette 7. GF Marguerita Salad – field greens, candied walnuts, fruit, blue cheese, tomato vinaigrette 9. GF Iceberg Wedge Salad - bacon, rothkase blue cheese, buttermilk dressing 10. GF Bibb Lettuce Salad – apples, pomegranate, red onion, poppy dressing 8. GF Roasted Squash Salad – brussels sprouts, dried cherries, pancetta, red onion, toma celena cheese 10. GF Roasted Griggstown Chicken Salad- greens, sautéed apples, candied walnuts, blue cheese, apple cider vinaigrette 16. Add to your salad: Grilled Chicken Breast 7. -
Hormel Foods Adds Another Strategic Leading Brand to Its Portfolio with the Acquisition of Planters®
FOR IMMEDIATE RELEASE Contact: Media Relations 507-434-6352 [email protected] Hormel Foods Adds Another Strategic Leading Brand to its Portfolio with the Acquisition of Planters® Acquisition of the Iconic Planters® Brand is a Continuation of the Company’s Evolution as a Global Branded Food Company AUSTIN, Minn., (Feb. 11, 2021) — Hormel Foods Corporation (NYSE: HRL), a global branded food company, announced today that it has entered into a definitive agreement to acquire the Planters® snack nut portfolio from the Kraft Heinz Company (Nasdaq: KHC). The proposed transaction is expected to close in calendar Q2 2021, subject to regulatory review and approval. The acquisition includes the Planters®, NUT-rition®, Planters® Cheez Balls and Corn Nuts® brands. Hormel Foods will acquire the business for $3.35 billion in cash in a transaction that provides a tax benefit valued at approximately $560 million, equating to an effective purchase price of $2.79 billion. “Planters® is an iconic leading snack brand with universal consumer awareness,” said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. “The acquisition of the Planters® business adds another $1 billion brand to our portfolio and significantly expands our presence in the growing snacking space. The Planters® brand enhances our portfolio built for individual and social snacking occasions, and perfectly complements our snacking brands such as Hormel Gatherings®, Columbus®, Justin’s®, SKIPPY®, Herdez® and Wholly®. This acquisition also meaningfully broadens our scope for future acquisitions in the snacking space.” “Our competencies in brand stewardship, revenue growth management, e-commerce, innovation and consumer insights will be key to driving growth for the Planters® brand and for our customers,” Snee said.