Hormel Foods Corporation (HRL) CEO Jim Snee on Q2 2022 Results - Earnings Call Transcript

Hormel Foods Corporation (NYSE:HRL) Q2 2022 Earnings Conference Call June 2, 2022 8:00 AM ET

Company Participants

David Dahlstrom - Director of Investor Relations

Jim Snee - Chairman, President and Chief Executive Officer

Jacinth Smiley - EVP and CFO

Conference Call Participants

Jack Hardin - Stephens Inc.

Antonio Hernández - Barclays

Ken Zaslow - BMO Capital Markets

Michael Lavery - Piper Sandler

Bryan Spillane - Bank of America

Thomas Palmer - JPMorgan

Eric Larson - Seaport Research Partners

Robert Moskow - Credit Suisse

Arthur Almeida - Goldman Sachs

Carson Barnes - Consumer Edge Research

Rebecca Scheuneman - Morningstar

Operator

Good morning, and welcome to the Hormel Foods Second Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] 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.

David Dahlstrom

Good morning. Welcome to the Hormel Foods conference call for the second quarter of fiscal 2022. We released our results this morning before the market opened, around 6:00 a.m. 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; and Jacinth Smiley, Executive Vice President and Chief Financial Officer. Jim will provide a review of the company's second quarter results, an update on business initiatives and a perspective on the remainder of fiscal 2022. Jacinth will provide detailed financial results and further commentary on the second quarter and our outlook.

The line will be open 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. An audio replay of this call will be available beginning at noon today, Central Time. The dial-in number is (877) 344-7529 and access code is 8061295. It will also be posted to our website and archived for one 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.