Hormel reported a record second-quarter profit of $180.2 million Wednesday despite the impacts of bird flu that has killed more than 8 million birds in Minnesota. The Austin, Minnesota, company had earnings of 67 cents per share Wednesday, topping Wall Street expectations by a nickel, according to a poll by Zacks Investment Research.
Hormel says it will sell less turkey this year because of a spreading bird flu outbreak. Farmers have been forced to kill more than 2.4 million turkeys since March. Most of the birds were in Minnesota, where Hormel is based.
Listen to John Rash discuss the life of David Carr on The Rash Report. Click the link above to listen to that conversation and other highlights from Friday the 13th on the Morning News WIth WCCO’s Dave Lee.
Hormel Foods said Tuesday that its fiscal fourth-quarter net income rose 19 percent, benefiting from strong export sales of its Spam canned ham and Skippy peanut butter. Its performance beat analysts’ expectations.
Hormel Foods’ fiscal second-quarter net income fell 2 percent as it dealt with one-time costs related to its acquisition of the Skippy peanut butter brand, higher grain costs and weaker turkey prices. Its quarterly performance missed Wall Street’s expectations.
The head of Austin-based Hormel Foods is presenting a $50,000 donation to a home for families of patients at the Minneapolis VA Medical Center.
Hormel Foods Corp. said Thursday its net income edged up as higher sales of Spam and Hormel chili and other products helped offset higher costs for grain and for commodity costs in its Jennie-O Turkey segment.
Hormel Foods apparently has a hankering for a peanut butter and bacon sandwich. The company primarily known for Spam and other cured, smoked and deli meats said Thursday that it’s buying Skippy, the country’s No. 2 peanut butter brand, for about $700 million.
Hormel Foods handed out hundreds of bonus checks to employees at its Austin plant on Thursday as a way to say thank you for their hard work.
A jury has ordered an Iowa warehouse operator to pay Hormel Foods Corp. $4 million for failing to protect its products from floodwaters in 2008.
The Humane Society of the United States is welcoming a statement from Hormel Foods Corp. that its company-owned farms are phasing out the use of small metal crates for confining pregnant hogs by the end of 2017.
Hormel Foods Corp.’s fiscal fourth-quarter profit fell 3 percent as sales at its grocery products segment declined.
Hormel Foods Corp. is donating food to flood victims in Minot, N.D.
Hormel Foods Corp.’s fiscal second-quarter profit climbed 41 percent despite facing rising food costs, helped by strong performance from refrigerated foods like deli meats and Jennie-O Turkey.
A Minnesota-made canned meat is now going to feed malnourished kids across the world.
Hormel Foods Corp. says stronger sales drove its first-quarter net income up 34 percent, and it raised its full-year outlook.
Hormel Foods Corp., which makes Spam and other prepared foods, said Tuesday its shareholders have approved a two-for-one stock split.
The holidays just got a little merrier for some 19,500 employees of Hormel Foods Corp.
Hormel Foods Corp. has distributed a record $16.3 million in profit-sharing to its plant employees, including workers at its Austin plant.
Hormel Foods Corp. said Friday that fourth-quarter net income rose 17 percent on better prices for turkey and lower grain costs.