CEO Jeffrey Ettinger

Hormel Foods Corp., the maker of Spam, Hormel chili and other foods, reports its third-quarter results before the market opens on Friday. WHAT TO WATCH FOR: The company's guidance for the remainder of the year and 2011. Wall Street expects the company to post a profit for the quarter that ended in July. And Hormel raised its full-year guidance during its last quarterly report, saying it expects the strength of its brands to carry its business. But Hormel has been facing major price...Read Full Story

Hormel Foods Corp. reports results for its fiscal fourth quarter on Tuesday before the market opens. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Hormel, based in Austin, Minn., continues to see gains as its foods like Spam, Dinty Moore stews and Chi-Chi's Mexican products resonate with budget-conscious shoppers. Consumers continue to limit their spending and eat at home in response to the recession, and that benefits food makers like...Read Full Story

CHICAGO (Reuters) - U.S. food makers H.J. Heinz Co <HNZ.N> and Hormel Foods Corp <HRL.N> said they expect sales to rise in the coming months as consumers stick to more frugal habits such as eating meals at home instead of going out. Heinz, which makes ketchup and Ore-Ida frozen potatoes, posted a lower quarterly profit on Tuesday, hurt by sales declines in North America and Europe. But it said it is optimistic about sales heading into the second half of its fiscal year and raised its full...Read Full Story

Hormel Foods Corp. noted that sales of its microwavable meals, including the Compleats brand, were weak in the quarter. Consumers are limiting their spending on expensive items amid the recession, and that's hurting products like microwavable meals. CEO Jeffrey Ettinger said the category is seeing competition on pricing as companies seek to keep wooing shoppers. He discussed the issue in the company's third-quarter earnings conference call with analysts on Thursday. QUESTION: Talk about your...Read Full Story

The compensation of Hormel Foods Inc.'s chief executive fell 17.5 percent in 2009 to $6.3 million, according to an Associated Press calculation of figures filed with regulators. Jeffrey M. Ettinger's incentive compensation fell, and he received smaller stock and options grants in a year when the maker of Spam and Hormel chili saw sales fall 3 percent but its profit rise as ingredient costs fell and its turkey unit improved. Ettinger's salary was about $956,000, 4.8 percent more than in fiscal...Read Full Story