Hormel Foods Corporation is a food processing company headquartered in Austin, Minnesota, USA.
The company is well known for producing the Spam luncheon meat.
It was founded by George A. Hormel in 1891 under the name “George A. Hormel & Company”.
Its business model and is organized into five business divisions: Grocery Products, Refrigerated Products, Jennie-O Turkey Store, Specialty Foods and International & Other.
Hormel Foods Corporation sells its products in all 50 states through Company sales personnel, independent brokers, and distributors.
Through Hormel Foods International Corporation, the Company sells its products in numerous countries worldwide, with its main international markets including: Canada, England, Australia, Mexico, Japan, and Micronesia.
The Hormel Foods Corporation brand portfolio includes:
Grocery products: Dinty Moore® stews, SPAM® varieties, Valley Fresh® chunk chicken, Doña María™ authentic Mexican products, Hormel®, Cook-Off Series™ chili, CHI-CHI’S® salsa, Hormel®, Compleats® meals, Stagg® chili, Herb-Ox® bouillon, Herdez® products, Wholly Guacamole® products, House of Tsang® sauces and oils, and SKIPPY® peanut butter products.
Refrigerated products: Hormel®, Black Label® bacon Hormel™, Country Crock® side dishes, Hormel®, Always Tender® meats. Lloyd’s® barbeque products, Hormel® pepperoni, Hormel® party trays, Hormel®, Natural Choice® meats, Hormel®, REV® wraps, Farmer John® products, Dan’s Prize® products, Di Lusso® deli meats, Saag’s® specialty sausages, Café H® meats, Austin Blues® products, Burke® products.
The company is publicly traded on the New York Stock Exchange (NYSE) under the ticker symbol HRL.
Hormel Foods Corporation – Company Overview
Chairman, President, and CEO: Jeffrey Ettinger - Industry: Food processing
- Type: Public company
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock symbol: HRL
- S&P 500 Component
- Founded: 1891
- Founder: George A. Hormel
- Net sales: $8.7 billion USD (2013)
- Net earnings: $526.2 million USD (2013)
- Earnings per share: $1.99 USD (2013)
- Company head office: 1 Hormel Place Austin, MN, USA
- Employees: 19,700 (2013)
- Website: http://www.hormelfoods.com/
- Investor relations number: (507) 437-5248
- 40 Manufacturing & Distribution Facilities
Hormel Foods Corporation – Financial Results
| Operating data (in $ thousands) | 2013 | 2012 |
| Net sales | $8,751,654 | $8,230,670 |
| Cost of products sold | $7,338,838 | $6,898,819 |
| Gross profit | $1,412,816 | $1,331,851 |
| Selling, general, and administrative expenses | $627,340 | $605,868 |
| Operating income | $805,989 | $764,674 |
| Earnings before income taxes | $798,507 | $758,335 |
| Net earnings attributable to Hormel Foods Corporation | $526,211 | $500,050 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $4,915,880 | $4,563,966 |
| Long term debt – less current maturities | $250,000 | $250,000 |
| Total stockholders’ equity | $3,316,579 | $2,824,925 |
| Common share data (in $) | ||
| Basic earnings per share | $1.99 | $1.90 |
| Diluted earnings per share | $1.95 | $1.86 |
Source: “Hormel Foods Corporation Annual Report 2013”
Hormel Foods Corporation – Live Stock Market Data