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On our call today is Jim Snee, Chairman of the Board, President, and Chief Executive Officer; and Jim Sheehan, Executive Vice President and Chief Financial Officer. Jim Snee will provide an overview of the Company's response for the COVID-19 pandemic, a review the Company's current and future operating condition and commentary regarding each segment's performance for the quarter. Jim Sheehan will provide detailed financial results and commentary regarding the Company's current and future financial condition.

Hormel (HRL) delivered earnings and revenue surprises of -4.55% and 2.21%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?

Hormel Foods Corporation (NYSE: HRL), a global branded food company, announced today that its quarterly dividend on the common stock, authorized by the Board of Directors at 23.25 cents ($0.2325) a share on May 18, 2020, will be paid August 17, 2020, to stockholders of record at the close of business on July 13, 2020.

The pork giant Hormel reported slightly worse-than-expected quarterly earnings that offer a glimpse at how the meat industry is dealing with the Covid-19 pandemic and hint at what consumers can expect.

Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, today reported results for the second quarter of fiscal 2020. All comparisons are to the second quarter of fiscal 2019 unless otherwise noted.

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Shares of Hormel Foods Corp. edged up 0.1% i premarket trading Thursday, after the parent of packaged foods, which brands include SPAM, Skippy and Hormel, reported a fiscal second-quarter profit that fell shy of expectations but sales that rose above forecasts, boosted by strength in grocery product sales amid the COVID-19 pandemic. Net income for the quarter to April 26 fell to $227.7 million, or 42 cents a share, from $282.4 million, or 52 cents a share, in the year ago period. The FactSet consensus was for earnings per share of 43 cents. Sales rose 3.3% to $2.42 billion, above the FactSet consensus of $2.39 billion, as sales rose 7.5% for grocery products and 12.4% for Jennie-O Turkey Store but fell 0.8% for refrigerated foods. U.S. retail net sales grew 16% and deli net sales increased 5%, while foodservice sales fell 21%. "In the second quarter, the company absorbed approximately $20 million in incremental supply chain costs primarily related to lower production volumes, employee bonuses and enhanced safety measures in its production facilities," the company stated, in response to the COVID-19 pandemic. "The company expects to absorb another $60-$80 million in the second half of the year, weighted primarily to the third quarter." The stock has gained 7.2% over the past three months through Wednesday, while the S&P 500 has lost 11.0%.

Hormel Foods' (HRL) second-quarter fiscal 2020 results are expected to reflect the impact of weakness in the International segment, thanks to the coronavirus outbreak.

The makers of Hormel® Natural Choice® premium lunch meat have launched a new line of slow-smoked products called Natural Choice® hardwood smoked lunch meats. These expertly crafted products – smoked in netting over real wood chips for over four hours – include exciting flavors like applewood ham, applewood turkey with garlic and herbs, pecanwood ham with sweet black pepper and pecanwood ham with brown sugar.

Hostess Brands CEO Andy Callahan tells Yahoo Finance people continue to fill their pantries with donuts and Twinkies amidst the COVID-19 pandemic.

Hormel reported a rise in sales as consumers snapped up products like Spam and Skippy during coronavirus lockdowns.

Yahoo Finance speaks with Coca-Cola CEO James Quincey about the path forward from the COVID-19 pandemic.

Hormel Foods Corporation (NYSE:HRL), a global branded food company, today announced the upcoming retirement of Larry Vorpahl, group vice president and president of Hormel Foods International Corporation. As a result, Swen Neufeldt, currently vice president of Meat Products marketing for the company's Refrigerated Foods division, has been named group vice president and president of Hormel Foods International Corporation. Lisa Selk, currently director of Hormel Health Labs and the company's CFI business, will assume the post of vice president of Meat Products marketing for Refrigerated Foods. Vorpahl's retirement and the related moves will be effective this summer.

While Hormel Foods' (HRL) second-quarter fiscal 2020 results reflect strength in retail sales, thanks to the coronavirus-led demand, the company's costs flared up on the pandemic.

Shares of Hormel Foods (NYSE:HRL) rose 0.2% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share were down 8.70% year over year to $0.42, which were in line with the estimate of $0.42.Revenue of $2,422,000,000 rose by 3.28% from the same period last year, which beat the estimate of $2,370,000,000.Guidance Hormel Foods hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 21, 2020View more earnings on HRLTime: 09:00 AMET Webcast URL: https://78449.choruscall.com/dataconf/productusers/hrl/mediaframe/38139/indexr.htmlPrice Action 52-week high: $51.53Company's 52-week low was at $37.00Price action over last quarter: Up 7.80%Company Profile Hormel Foods is a protein-focused branded food company. Its brands include its namesake Hormel, Spam, Jennie-O, Dinty Moore, Applegate, Wholly Guacamole, and Skippy. The vast majority of the company's revenue is U.S.-based: 62% U.S. retail, 31% U.S. food service, and 7% international. By product type, 19% of revenue is shelf-stable foods, 19% is poultry (branded and commodity), 57% is other perishable food, and 5% is other, primarily nutritional products. The company holds the number-one market position in turkey, shelf-stable meat, pepperoni, natural/organic deli meat, guacamole, and canned stew and the number-two position in bacon and peanut butter.See more from Benzinga * Recap: Capital Senior Living Q1 Earnings * Teekay LNG Partners: Q1 Earnings Insights * Recap: Teekay Tankers Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Food is a necessity, and with the global population growing by more than 200,000 every day, there are more mouths to feed than ever. This suggests the food industry will continue its growth trajectory over the long term. In the near term, the coronavirus pandemic has created unique challenges and opportunities for many companies in this crucial sector, and that's something investors in the food sector need keep an eye on.

The global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.

The Makers of HERDEZ® brand salsa, the No. 1 selling salsa brand in Mexico and a growing staple in kitchens across the United States, today announced the launch of its Salsa Cremosa line. Built on the unprecedented success of HERDEZ® Guacamole Salsa, the new collection of creamy salsas helps home cooks and salsa enthusiasts to experience the essence of authentic Mexican cuisine and transform everyday meals into delicious, social media-worthy dishes. The Salsa Cremosa line features three varieties that provide a new way for fans to enjoy unparalleled Mexican flavors.

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