Hormel Foods Corporation is a global branded food company founded in 1891. It focuses on manufacturing and distributing branded, value-added consumer items. The company's product portfolio has expanded through organic growth and acquisitions. Hormel brings trusted brands to tables across the globe, generating approximately $12 billion in annual revenue from more than 80 countries.

• Employees: Approximately 20,000 (as of October 27, 2024)
• Geographic Footprint: More than 80 countries
• Headquarters: Austin, Minnesota
• Founded: 1891
• Revenue: $12 billion (FY2024)
• Key Subsidiaries/Brands: Applegate, Jennie-O, SPAM, Skippy, Planters, and more

• CEO: James P. Snee
• CFO: Jacinth C. Smiley
• Other Key Executives: John F. Ghingo (Executive Vice President, Retail), Mark J. Ourada (Group Vice President, Foodservice), Swen Neufeldt (Group Vice President, Hormel Foods International Corporation), Steve J. Lykken (Group Vice President, Supply Chain), Colleen R. Batcheler (Senior Vice President, External Affairs, and General Counsel), Mary Katherine Clark (Senior Vice President and Chief Communications Officer), Katherine M. Losness-Larson (Senior Vice President, Human Resources), Pierre M. Lilly (Senior Vice President and Chief Compliance Officer), Kevin L. Myers (Senior Vice President, Research and Development and Quality Control), Paul R. Kuehneman (Vice President and Controller)

The officer team has an average of 23 years of service.

• Annual Revenue: $11.9 billion (FY2024)
• Net Income: $805 million (FY2024)
• Total Assets: $13.4 billion (as of October 27, 2024)
• Employees: Approximately 20,000 (as of October 27, 2024)
• Key Financial Highlights: Diluted earnings per share were $1.47 (FY2024), compared to $1.45 in the prior year.

The Company offers a wide array of food products.

• Meat Products: Includes pork, turkey, beef, and chicken products.
• Nut Products: Includes a variety of nuts and nut butters.
• Other Food Products: Includes a wide range of other food products.

The company's products are sold across multiple distribution channels, including U.S. retail, U.S. foodservice, and internationally.

The company operates through three reportable segments:

• Retail: Primarily the processing, marketing, and sale of food products in the U.S. retail market, including the MegaMex Foods joint venture.
• Foodservice: Primarily the processing, marketing, and sale of food products for foodservice, convenience store, and commercial customers in the U.S.
• International: Processes, markets, and sells Company products internationally, including results from international joint ventures, equity method investments, and royalty arrangements.

The Company focuses on meeting consumer preferences, delivering product innovation, and maintaining long-term relationships with industry partners. Key strategic initiatives include:

• The Transform and Modernize initiative, aimed at achieving a profitable cost structure, operating more profitably, better serving customers, and optimizing cash flow.
• Investments in data and technology to improve analytics, customer service, and process efficiencies.
• Prioritizing investments in growth, innovation, cost savings, automation, and maintenance.

The production and sale of meat and food products is highly competitive. The Company competes with manufacturers of pork and turkey products, as well as national and regional producers of other meat and protein sources, such as beef, chicken, fish, nuts, and plant-based proteins.

• Market Position: The company aims to provide high-quality products with strong brand recognition supported by reliable customer service.
• Key Competitors: Manufacturers of pork and turkey products, and other meat and protein sources.
• Industry Trends: The company focuses on meeting consumer preferences, delivering product innovation, and maintaining long-term and lasting relationships with industry partners.

• Business and Operational Risks: Deterioration of economic conditions, volatility in financial markets, supply chain disruptions, and the risk of not realizing cost savings from strategic initiatives.
• Industry Risks: Food contamination, outbreaks of disease among livestock and poultry, and fluctuations in commodity prices.
• Cybersecurity Risks: Cybersecurity attacks, security breaches, and other IT interruptions.
• Legal and Regulatory Risks: Litigation, government regulation, and environmental regulations.