Articles tagged under: Hormel
UM Interim President Selected
Published May 9, 2023
In a special meeting of the University of Minnesota Board of Regents, former Hormel CEO Jeff Ettinger was appointed the university’s interim president. The current president, Joan Gabel, has resigned to accept the chancellor role at the University of Pittsburgh.…Hormel Earnings Flat in 2Q
Published May 21, 2021
For its second quarter, Hormel Foods had net income of $228 million. Those earnings are nearly unchanged from one year ago. Sales rose from $2.4 billion to $2.6 billion.Hormel Releases 4Q Financials
Published November 25, 2020
Hormel Foods reports fourth quarter profits of $234 million. That’s down from $255.5 million one year ago. Due to the pandemic, Hormel invested over $80 million in supply chain changes over the past year. That includes enhanced safety measures and…Hormel Releases Quarterly Financials
Published August 26, 2020
Hormel reports third quarter net earnings of $203 million, up two percent from last year. Hog prices dropped to a 20-year low in July, which was positive for the Minnesota-based meat processor. COVID-19 hurt the bottomline for Hormel’s turkey business.…Hormel Issues 2Q Financials
Published May 22, 2020
Hormel Foods reports profits of $227.7 million in the second quarter. That’s down from $282.4 million one year ago. In the second quarter, Hormel took in $20 million in supply chain costs connected to lower production volumes, employee bonuses and…Hormel Reports 1Q Earnings
Published February 20, 2020
Minnesota-based Hormel Foods reports net income of nearly $243 million in the first quarter, up marginally from one year ago. Net sales rose one percent, reaching $2.4 billion. Volatile pork and beef trim prices impacted profitability across product lines in…Hormel Makes Ractopamine Announcement
Published February 20, 2020
As of April 1, Hormel Foods will no longer accept hogs that have been exposed to the feed additive ractopamine. Tyson Foods and JBS USA made similar moves last year. Ractopamine is banned in China and the pork processing companies…Hormel Officials Anticipate More Volatility
Published August 23, 2019
Hormel Foods reports third quarter net earnings of $199.4 million, down from $210.4 million in the same quarter one year ago. Earnings were in line with expectations. Hormel CEO Jim Snee said further volatility is expected in a rapidly changing…African Swine Fever is a Consideration for Hormel Sales
Published May 23, 2019
Hormel Foods reports second quarter earnings of $282.4 million, up from $237.4 million one year ago. Sales for the Minnesota-based company were at a record level, but Hormel officials warned African Swine Fever in China are impacting global hog markets.…