Hormel Foods Corporation (HRL) Q2 2023 Earnings Call Transcript

Hormel Foods Corporation (NYSE:HRL) Q2 2023 Earnings Conference Call June 1, 2023 9:00 AM ET

Company Participants

David Dahlstrom - Director, IR

James Snee - Chairman, President & CEO

Jacinth Smiley - EVP & CFO

Deanna Brady - EVP, Retail

Conference Call Participants

Michael Lavery - Piper Sandler & Co.

Benjamin Theurer - Barclays Bank

Thomas Palmer - JPMorgan Chase & Co.

Peter Galbo - Bank of America Merrill Lynch

Adam Samuelson - Goldman Sachs Group

Benjamin Bienvenu - Stephens Inc.

Rupesh Parikh - Oppenheimer

Operator

Good morning, and welcome to the Hormel Foods Second Quarter 2023 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to David Dahlstrom, Director of Investor Relations. Please go ahead, sir.

David Dahlstrom

Good morning. Welcome to the Hormel Foods conference call for the second quarter of fiscal 2023. We released our results this morning before the market opened, around 6:30 a.m. Eastern Time. If you did not receive a copy of the release, you can find it on our website at hormelfoods.com under the Investors section. On our call today is Jim Snee, Chairman of the Board, President and Chief Executive Officer; Jacinth Smiley, Executive Vice President and Chief Financial Officer; and Deanna Brady, Executive Vice President of the Retail segment.

Jim will review the company's second quarter results and give a perspective on our outlook for the balance of fiscal 2023. Jacinth will provide detailed financial results and further commentary on our outlook and Deanna will join Jim and Jacinth for the Q&A portion of the call. The line will be open for questions following Jacinth's remarks. As a courtesy to other analysts, please limit yourself to one question with one follow-up. If you have additional questions, you are welcome to get back into the queue. At the conclusion of this morning's call, a webcast replay will be posted to our investor website and archived for 1 year.

Before we get started, I need to reference the safe harbor statement. Some of the comments made today will be forward-looking, and actual results may differ materially from those expressed in or implied by the statements we will be making. Please refer to our most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which can be accessed at hormelfoods.com under the Investors section. I will now turn the call over to Jim Snee.