Meat&Poultry - March 2011 - 10

Business Notes
Hormel earnings up 34 percent in first quarter
Stronger meat and turkey product sales helped propel a 34 percent increase in earnings at Hormel Foods Corp. during its first fiscal quarter, which ended Jan. 30. The company announced earnings of $148,826,000, equal to 56c per share on the common stock, which compared with earnings of $111,207,000, or 42c per share, during the same quarter of the previous Ettinger year. Sales for the quarter were $1,921,558,000, up 11 percent from $1,727,447,000 during the same quarter of the previous year. Hormel’s Refrigerated Foods segment reported operating profit 37 percent greater than last year, as favorable spreads between hog costs and primal values benefited the segment. Sales grew 13 percent during the quarter, on higher sales of Hormel party trays, pepperoni, refrigerated entrees, Hormel Always Tender fl avored meats, and aided by the inclusion of Hormel Country Crock side dishes. and fresh tray-pack items. However, the Grocery Products segment’s operating profit declined 10 percent, due primarily to higher raw material costs. Sales grew 6 percent, led by higher sales of the SPAM family of products, Hormel chili, Hormel flavored bits and Hormel Mary Kitchen hash, and strong sales growth of the MegaMex Foods franchise. “Due to our strong results in the fi rst quarter, we are raising our full year guidance range from $1.55 to $1.60 per share to $1.62 to $1.68 per share,” said Jeffrey Ettinger, chairman of the board, president and CEO. “We expect to see higher input costs the balance of the year, and our team will continue to tackle the challenge of offsetting these added costs with pricing and efficiency gains.” ■

Jennie-O Turkey Store experienced a positive quarter, with segment operating profit up 122 percent. Better commodity meat prices and improved efficiencies in the supply chain and operations helped drive results. Sales grew 14 percent for this segment, featuring increased sales of Jennie-O Turkey Store turkey burgers, turkey bacon

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Meat&Poultry - March 2011

Table of Contents for the Digital Edition of Meat&Poultry - March 2011

Meat&Poultry - March 2011
Commentary - Defense mechanisms
Hormel earnings up 34 percent in first quarter
Cargill introduces Fressure patties
Maple Leaf earnings hit by input costs
Sanderson Farms touts record FY2010
Grant allows XL Foods to double capacity
Townsends poultry ops sold after bankruptcy
JBS reports positive results of food-safety technology
Taco Bell launches new beef image TV ads
Catfish inspection gets political
Sustainability strides
E xperience counts
THE TOP 125 PROCESSORS - Winner’s circle
THE TOP 125 PROCESSORS - Alphabetical listing by company name
THE TOP 125 PROCESSORS - by rank
Small Business Matters - Duty calls
Food Ingredient Solutions - Delectable pairings
Processing Innovations - Everything but the squeal
Sanitation - Cleaning passion
Food Safety - Reassigning resources
Food Safety - Food-safety fortress
Packaging Solutions - Packaging under pressure
New Product Rollouts - Unveiling ideas
New Products
Labor - Questioning benefi ts
Names in the News
New Product Showcase
Classified Advertising
Meat&Poultry - March 2011 - Meat&Poultry - March 2011
Meat&Poultry - March 2011 - 2
Meat&Poultry - March 2011 - 3
Meat&Poultry - March 2011 - 4
Meat&Poultry - March 2011 - 5
Meat&Poultry - March 2011 - 6
Meat&Poultry - March 2011 - 7
Meat&Poultry - March 2011 - Commentary - Defense mechanisms
Meat&Poultry - March 2011 - 9
Meat&Poultry - March 2011 - Hormel earnings up 34 percent in first quarter
Meat&Poultry - March 2011 - 11
Meat&Poultry - March 2011 - Maple Leaf earnings hit by input costs
Meat&Poultry - March 2011 - 13
Meat&Poultry - March 2011 - Sanderson Farms touts record FY2010
Meat&Poultry - March 2011 - 15
Meat&Poultry - March 2011 - Townsends poultry ops sold after bankruptcy
Meat&Poultry - March 2011 - 17
Meat&Poultry - March 2011 - Taco Bell launches new beef image TV ads
Meat&Poultry - March 2011 - 19
Meat&Poultry - March 2011 - Catfish inspection gets political
Meat&Poultry - March 2011 - 21
Meat&Poultry - March 2011 - Sustainability strides
Meat&Poultry - March 2011 - 23
Meat&Poultry - March 2011 - 24
Meat&Poultry - March 2011 - 25
Meat&Poultry - March 2011 - 26
Meat&Poultry - March 2011 - 27
Meat&Poultry - March 2011 - 28
Meat&Poultry - March 2011 - 29
Meat&Poultry - March 2011 - E xperience counts
Meat&Poultry - March 2011 - 31
Meat&Poultry - March 2011 - 32
Meat&Poultry - March 2011 - 33
Meat&Poultry - March 2011 - 34
Meat&Poultry - March 2011 - 35
Meat&Poultry - March 2011 - THE TOP 125 PROCESSORS - Winner’s circle
Meat&Poultry - March 2011 - 37
Meat&Poultry - March 2011 - THE TOP 125 PROCESSORS - Alphabetical listing by company name
Meat&Poultry - March 2011 - 39
Meat&Poultry - March 2011 - 40
Meat&Poultry - March 2011 - 41
Meat&Poultry - March 2011 - 42
Meat&Poultry - March 2011 - THE TOP 125 PROCESSORS - by rank
Meat&Poultry - March 2011 - 44
Meat&Poultry - March 2011 - 45
Meat&Poultry - March 2011 - 46
Meat&Poultry - March 2011 - 47
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Meat&Poultry - March 2011 - 55
Meat&Poultry - March 2011 - 56
Meat&Poultry - March 2011 - 57
Meat&Poultry - March 2011 - 58
Meat&Poultry - March 2011 - 59
Meat&Poultry - March 2011 - 60
Meat&Poultry - March 2011 - 61
Meat&Poultry - March 2011 - Small Business Matters - Duty calls
Meat&Poultry - March 2011 - 63
Meat&Poultry - March 2011 - 64
Meat&Poultry - March 2011 - 65
Meat&Poultry - March 2011 - 66
Meat&Poultry - March 2011 - 67
Meat&Poultry - March 2011 - Food Ingredient Solutions - Delectable pairings
Meat&Poultry - March 2011 - 69
Meat&Poultry - March 2011 - 70
Meat&Poultry - March 2011 - 71
Meat&Poultry - March 2011 - 72
Meat&Poultry - March 2011 - 73
Meat&Poultry - March 2011 - 74
Meat&Poultry - March 2011 - 75
Meat&Poultry - March 2011 - Processing Innovations - Everything but the squeal
Meat&Poultry - March 2011 - 77
Meat&Poultry - March 2011 - 78
Meat&Poultry - March 2011 - 79
Meat&Poultry - March 2011 - 80
Meat&Poultry - March 2011 - 81
Meat&Poultry - March 2011 - 82
Meat&Poultry - March 2011 - Sanitation - Cleaning passion
Meat&Poultry - March 2011 - Food Safety - Reassigning resources
Meat&Poultry - March 2011 - 85
Meat&Poultry - March 2011 - 86
Meat&Poultry - March 2011 - 87
Meat&Poultry - March 2011 - Food Safety - Food-safety fortress
Meat&Poultry - March 2011 - 89
Meat&Poultry - March 2011 - 90
Meat&Poultry - March 2011 - 91
Meat&Poultry - March 2011 - 92
Meat&Poultry - March 2011 - 93
Meat&Poultry - March 2011 - 94
Meat&Poultry - March 2011 - 95
Meat&Poultry - March 2011 - 96
Meat&Poultry - March 2011 - 97
Meat&Poultry - March 2011 - Packaging Solutions - Packaging under pressure
Meat&Poultry - March 2011 - 99
Meat&Poultry - March 2011 - 100
Meat&Poultry - March 2011 - 101
Meat&Poultry - March 2011 - 102
Meat&Poultry - March 2011 - 103
Meat&Poultry - March 2011 - 104
Meat&Poultry - March 2011 - New Product Rollouts - Unveiling ideas
Meat&Poultry - March 2011 - New Products
Meat&Poultry - March 2011 - 107
Meat&Poultry - March 2011 - Labor - Questioning benefi ts
Meat&Poultry - March 2011 - Names in the News
Meat&Poultry - March 2011 - New Product Showcase
Meat&Poultry - March 2011 - 111
Meat&Poultry - March 2011 - 112
Meat&Poultry - March 2011 - 113
Meat&Poultry - March 2011 - 114
Meat&Poultry - March 2011 - 115
Meat&Poultry - March 2011 - 116
Meat&Poultry - March 2011 - Classified Advertising
Meat&Poultry - March 2011 - 118
Meat&Poultry - March 2011 - 119
Meat&Poultry - March 2011 - 120
Meat&Poultry - March 2011 - 121
Meat&Poultry - March 2011 - 122
Meat&Poultry - March 2011 - 123
Meat&Poultry - March 2011 - 124
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