Jim Snee, president and chief executive officer at Hormel Foods, delivered the evening’s featured presentation and commented on the company’s 2016 performance. “2016 was another banner year for Hormel Foods and we continue to be inspired by our mission to produce some of the most trusted and iconic food products for millions of consumers around the globe," Snee said. "We achieved record sales of $9.5 billion and record earnings of $1.64 per share, a 29 percent increase over the previous year.”
Snee showed highlights from the events of the company’s 125th anniversary celebrations from around the world and discussed the 2017 outlook for Hormel Foods. “Our formula for success will continue to allow us to build our portfolio of brands that consumers love, accelerate innovation, complete revolutionary acquisitions and build our balanced model across all of our businesses. We are well positioned to fuel more record-breaking years ahead and I could not be more excited about our future. We have a talented and inspired group of employees who are focused on driving growth, innovation and continued success now and into the next 125 years.”
*Adjusted Financial Measures
About Hormel Foods – Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. Its brands include SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin’s®, Wholly Guacamole®, Hormel® Black Label® 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 one of “The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for the eighth year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. Inspired Food.™ - focusing on its legacy of innovation. For more information, visit www.hormelfoods.com and http://2015csr.hormelfoods.com/.
This news release contains forward-looking information based on management’s current views and assumptions. Actual events may differ materially. Please refer to the cautionary statement regarding Forward-Looking Statements and Risk Factors which appear on pages 31 - 35 in the company’s 2016 Annual Report, which can be accessed at www.hormelfoods.com under “Investors-SEC Filings.”