Hormel Foods Corporation (HRL) Q1 2023 Earnings Call Transcript

Hormel Foods Corporation (NYSE:HRL) Q1 2023 Earnings Conference Call March 1, 2023 9:30 AM ET

Company Participants

David Dahlstrom - Director of Investor Relations

Jim Snee - Chairman of the Board, President & Chief Executive Officer

Jacinth Smiley - Executive Vice President & Chief Financial Officer

Deanna Brady - Executive Vice President of the Retail Segment

Conference Call Participants

Rupesh Parikh - Oppenheimer

Robert Moskow - Credit Suisse

Eric Larson - Seaport Research Partners

Ben Theurer - Barclays

Tom Palmer - JPMorgan

Peter Galbo - Bank of America

Michael Lavery - Piper Sandler

Adam Samuelson - Goldman Sachs

Operator

Good morning and welcome to the Hormel Foods First Quarter 2023 Earnings Conference Call. All participants will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

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 first quarter of fiscal 2023. We released our results this morning before the market opened around 6:30 AM Eastern. 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 first quarter results and give a perspective on the rest of fiscal 2023. Jacinth will provide detailed financial results and further commentary on our outlook, and Deanna will join for the Q&A portion of the call. The line will be opened for questions following Jacinth’s remarks.

As a courtesy to the 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 in archive for one year. Additionally, earlier this week, we filed a Form 8-K with the U.S. Securities and Exchange Commission that included supplemental segment financial information for fis years 2021 and 2022 related to the GoFWD initiative. We have posted a copy of the Form 8-K to our investor website, investor.hormelfoods.com.