AUSTIN,
Minn., Oct. 12, 2023 /PRNewswire/ -- Hormel Foods
Corporation (NYSE: HRL), a Fortune 500 global branded food
company, will host its 2023 Investor Day this morning at the New
York Stock Exchange in New York
City. Jim Snee, chairman of
the board, president and chief executive officer, and Jacinth
Smiley, executive vice president and chief financial officer, will
be joined by other members of the senior leadership team to provide
an update on the Company's strategic evolution and present its plan
to deliver earnings growth.
![Hormel Foods corporate logo Hormel Foods corporate logo](https://mma.prnewswire.com/media/446407/Hormel_Foods_Corporate_Logo.jpg)
"We remain an uncommon global branded food company and leader in
our industry," Snee said. "Through successful execution against our
strategic priorities, we are a stronger, more balanced and less
volatile company today. Over the next three years, we expect to
accelerate investment, transformation and modernization
initiatives, targeting meaningful earnings growth and a return to
our historical earnings trajectory. Our proven strategies, inspired
people and unique culture position us well to execute our plan and
drive long-term value for our shareholders."
At the 2023 Investor Day, Snee will outline updated strategic
priorities that are aligned with the Company's segments and
enterprise objectives. These priorities include:
- Driving focus & growth in its Retail business
- Expanding leadership in Foodservice
- Aggressively developing its global presence
- Executing the enterprise entertaining & snacking
vision
- Future-fitting its One Supply Chain
- Continuing to transform & modernize the Company
Additional presenters at today's event include Deanna Brady, executive vice president, Retail;
Scott Aakre, group vice president
and chief marketing officer, Retail; Mark
Ourada, group vice president, Foodservice; and Mark Coffey, group vice president, supply
chain.
The Company will provide details of fiscal 2023 fourth quarter
results and its fiscal 2024 outlook on its upcoming earnings call
on Nov. 29, 2023.
PRESENTATION
Today's event will start at 8:30 a.m. ET and conclude around noon. To view
the live webcast of the event or access the presentations, go to
the Company's website, www.hormelfoods.com/ click on "Investors,"
and you will find a link to the webcast and presentations.
Additional information related to the Company's 2023 Investor Day
can be found here: investorday.hormelfoods.com. If you are unable
to view the live webcast, an archived version will be available on
the Company's investor website, investor.hormelfoods.com, following
the presentation.
ABOUT HORMEL FOODS – Inspired People. Inspired
Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food
company with over $12 billion in
annual revenue across more than 80 countries worldwide. Its brands
include Planters® , Skippy® , SPAM® , Hormel® Natural Choice®
, Applegate® , Justin's® , Wholly® , Hormel® Black Label® ,
Columbus® , Jennie-O® and more than 30 other beloved
brands. The Company is a member of the S&P 500 Index and the
S&P 500 Dividend Aristocrats, was named on the "Global 2000
World's Best Employers" list by Forbes magazine for three years, is one of
Fortune magazine's most admired companies, has appeared on the "100
Best Corporate Citizens" list by 3BL Media 13 times, and has
received numerous other awards and accolades for its corporate
responsibility and community service efforts. The Company lives by
its purpose statement — Inspired People. Inspired Food.™ — to bring
some of the world's most trusted and iconic brands to tables across
the globe. For more information, visit www.hormelfoods.com.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking" information within the
meaning of the federal securities laws. The "forward-looking"
information may include statements concerning the Company's outlook
for the future as well as other statements of beliefs, future
plans, strategies, or anticipated events and similar expressions
concerning matters that are not historical facts. Words or phrases
such as "should result," "believe," "intend," "plan," "are expected
to," "targeted," "will continue," "will approximate," "is
anticipated," "estimate," "project," or similar expressions are
intended to identify forward-looking statements. Such statements
are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical earnings and
those anticipated or projected, which factors include, but are not
limited to, risks related to the deterioration of economic
conditions; the COVID-19 pandemic; risks associated with
acquisitions and divestitures; potential disruption of operations
including at comanufacturers, suppliers, logistics providers,
customers, or other third-party service providers; risk of loss of
a material contract; the Company's inability to protect information
technology systems against, or effectively respond to, cyber
attacks or security breaches; deterioration of labor relations,
labor availability or increases to labor costs; general risks of
the food industry, including food contamination; outbreaks of
disease among livestock and poultry flocks; fluctuations in
commodity prices and availability of raw materials and other
inputs; fluctuations in market demand for the Company's products;
damage to the Company's reputation or brand image; climate change,
or legal, regulatory, or market measures to address climate change;
risks of litigation; potential sanctions and compliance costs
arising from government regulation; compliance with stringent
environmental regulations and potential environmental litigation;
and risks arising from the Company's foreign operations. Please
refer to the cautionary statements regarding "Risk Factors" and
"Forward-Looking Statements" that appear in our most recent Annual
Report on Form 10-K and Quarterly reports on Form 10-Q, which can
be accessed at www.hormelfoods.com in the "Investors" section, for
additional information. In making these statements, the Company is
not undertaking, and specifically declines to undertake, any
obligation to address or update each or any factor in future
filings or communications regarding the Company's business or
results, and is not undertaking to address how any of these factors
may have caused changes to discussions or information contained in
previous filings or communications. Though the Company has
attempted to list comprehensively these important cautionary risk
factors, the Company wishes to caution investors and others that
other factors may in the future prove to be important in affecting
the Company's business or results of operations. The Company
cautions readers not to place undue reliance on forward-looking
statements, which represent current views as of the date made.
INVESTOR
CONTACT:
|
MEDIA
CONTACT:
|
David
Dahlstrom
|
Media
Relations
|
ir@hormel.com
|
media@hormel.com
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hormel-foods-to-highlight-progress-on-its-strategic-evolution-and-detail-plan-to-deliver-earnings-growth-at-its-2023-investor-day-301954839.html
SOURCE Hormel Foods Corporation