Hormel Foods (HRL) 3Q16 Earnings Call Notes

posted in: Earnings Call, Notes | 0

Long-term plan is to grow top line by 5% and bottom line by 10% annually

I would like to take this opportunity to reconfirm that our of long-term goals of 5% sales growth and 10% bottom line growth continue to be a appropriate for our company. While we recognize any given year may deviate from these goals, we believe they are achievable over the long run due to our proven ability to build strong brands that resonate with consumers, innovate in categories where we compete, make strategic acquisitions, and achieve balanced growth in various market conditions. Jeff Ettinger – Chairman and CEO

 

Ranking in Selling Power magazine confirms strength of Hormel’s brands

And we are extremely proud to report that just this week Hormel Foods was ranked number one in the 50 best companies to sell-for ranking by Selling Power magazine. This is a huge honor for the company and is further confirmation of the strength of our brands and sales teams. Jim Snee – President and COO

 

HRL is pleased with 2014 CytoSport acquisition

Our CytoSport team posted strong growth for Muscle Milk protein beverages and powders once again this quarter. We continue to be pleased with the new Muscle Milk protein smoothies which have been well received by consumers… The Muscle Milk brand has been performing well in both the protein beverage and powder categories and we expect that to continue. We’re also very excited about the innovation the CytoSport team will be delivering in the fourth quarter. Jim Snee – President and COO

 

SKIPPY and SPAM brands are doing well

Again, from a sales perspective or brand perspective, clearly very pleased with the work the team did on continuing to grow the SPAM franchise. The SKIPPY business, the introduction of SKIPPY pb bites continues to go well. Jim Snee – President and COO