Hormel Foods 8-K 2013
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 18, 2013
HORMEL FOODS CORPORATION
(Exact name of registrant as specified in its charter)
1 Hormel Place
Austin, MN 55912
(Address of Principal Executive Office)
Registrants telephone number, including area code: (507) 437-5611
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 8 OTHER EVENTS
Item 8.01 Other Events
On June 18, 2013, the Company issued a press release to provide revised earnings guidance for fiscal year 2013. The text of the press release follows:
HORMEL LOWERS OUTLOOK FOR FISCAL 2013
Austin, Minn., June 18, 2013 Hormel Foods Corporation (NYSE: HRL), a multinational marketer of consumer-branded meat and food products, today lowered its full year guidance range for fiscal 2013 from $1.93 - $2.03 per share to $1.88 - $1.96 per share.
Lower than expected results in our pork operations, higher input costs and softer sales of our retail products in our Refrigerated Foods segment are the primary reason for the expected shortfall in our second half results, said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer.
We remain very bullish about our future earnings potential. We will provide more details regarding the outlook during our Investor Day on June 26, 2013, Ettinger concluded.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace. The company is a member of the Standard & Poors (S&P) 500 Index, S&P Dividend Aristocrats for 2012, Maplecroft Climate Innovation Indexes, Global 1000 Sustainable Performance Leaders and was again named one of The 100 Best Corporate Citizens by Corporate Responsibility Magazine for the fifth year in a row. Hormel Foods debuted on the G.I. Jobs magazine list of Americas Top 100 Military Friendly Employers in 2012. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit http://www.hormelfoods.com.
This news release contains forward-looking information based on managements current views and assumptions. Actual events may differ materially. Please refer to the cautionary statement regarding Forward-Looking Statements and Risk Factors that appear on pages 31-38 in the companys Form 10-Q for the quarter ended April 28, 2013, filed on June 7, 2013, which can be accessed at www.hormelfoods.com under Investors-SEC Filings.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.