Hormel Beats 2Q Profit Forecasts Despite Bird Flu OutbreaksHormel 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 Bird Flu Outbreak Will Hurt Turkey SalesHormel 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.
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Spam, Skippy Give Boost To Hormel's 4Q Results 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 2Q Profit Falls, Misses 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.
Hormel CEO Making Donation For Military FamiliesThe 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.
Spam Sales Help Boost Hormel 1Q Net Income 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 Buying Skippy For About $700 Million 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 Gives Back To Its EmployeesHormel 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.
Jury Sides With Hormel Over Food Lost In '08 FloodA jury has ordered an Iowa warehouse operator to pay Hormel Foods Corp. $4 million for failing to protect its products from floodwaters in 2008.
Hormel Ending Tight Confinement For Pregnant PigsThe 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 4Q Profit Falls, Revenue RisesHormel Foods Corp.'s fiscal fourth-quarter profit fell 3 percent as sales at its grocery products segment declined.