MEAT+POULTRY - January 2025 - 10

BUSINESS NOTES
Hormel sales
decline in
FY '24
Sales remained
lower than expected,
particularly in the
Jennie-O Turkey Store
and Spam segments of
the food business for
Hormel Foods Corp.,
when it reported its fiscal
fourth quarter results,
ended Oct. 27.
Shareholders greenlight
Smithfield IPO
WH Group Ltd., the parent company of Smithfield Foods Inc., announced in December
that shareholders approved a spin-off plan that would list Smithfield on the New York
Stock Exchange or Nasdaq Stock Market.
According to an investor relations statement from WH Group, 99.4% of shareholders
voted in favor of the spin-off. The company first confirmed this idea in a filing in
November, when it intended to list up to 20% of Smithfield shares. In its November filing,
WH Group said the " unaudited net asset value " for Smithfield was $5.38 billion as of Sept.
30, 2024.
In July, WH Group confirmed the proposed spin-off with its interest in listing the pork
producer in the two American markets. The company stated that the proposed spin-off
was subject to market conditions and regulatory approval by the US Securities and
Exchange Commission.
Hormel reported
net earnings of $220.2
million, equal to 40¢ per
share on the common
stock, up from $195.9
million, or 36¢ per share,
in the previous year's
fourth quarter. Sales
declined to $3.14 billion
from $3.19 billion during
the same period last
year. Volume decreased
to 1.11 billion lbs from
1.16 billion lbs in 2023
for the fourth quarter.
Sales for the 2024
fiscal year came in at
$11.92 billion, down from
$12.11 billion in 2023.
Net earnings for the year
stood at $805.04 million,
equal to $1.47 per share
on the common stock,
up from $793.6 million or
$1.45 million per share
from 2023.
Butterball to shutter Arkansas facility
Butterball LLC announced plans to close its further processing facility in Jonesboro,
Ark., on Feb. 3, 2025. In December, the company submitted Worker Adjustment and
Retraining Notifications (WARN) related to the closure, which will impact approximately
180 employees. Butterball plans to move production from the Jonesboro plant to other
facilities within its manufacturing network.
" We deliberated for a long time about this difficult decision, as we know it will affect
about 180 team members and their families, " said Jay Jandrain, chief executive officer and
president of Butterball. " We are committed to helping our team members as they determine
next steps in their careers. "
Workers at the Jonesboro plant will continue to be paid through Feb. 3 and receive
medical benefits if they work through their scheduled end of service date in accordance
with the WARN Act. They also will be eligible for a severance package.
10 MEAT+POULTRY | 01.25 | www.meatpoultry.com
Timon, ColleenMichaels - stock.adobe.com
http://www.meatpoultry.com

MEAT+POULTRY - January 2025

Table of Contents for the Digital Edition of MEAT+POULTRY - January 2025

MEAT+POULTRY - January 2025 - Intro
MEAT+POULTRY - January 2025 - FC1
MEAT+POULTRY - January 2025 - FC2
MEAT+POULTRY - January 2025 - 1
MEAT+POULTRY - January 2025 - 2
MEAT+POULTRY - January 2025 - 3
MEAT+POULTRY - January 2025 - 4
MEAT+POULTRY - January 2025 - 5
MEAT+POULTRY - January 2025 - 6
MEAT+POULTRY - January 2025 - 7
MEAT+POULTRY - January 2025 - 8
MEAT+POULTRY - January 2025 - 9
MEAT+POULTRY - January 2025 - 10
MEAT+POULTRY - January 2025 - 11
MEAT+POULTRY - January 2025 - 12
MEAT+POULTRY - January 2025 - 13
MEAT+POULTRY - January 2025 - 14
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https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2025
https://digital.meatpoultry.com/sosland/mp/ippe-preshow-december-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-december-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2024
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2024
https://digital.meatpoultry.com/sosland/mp/meatpoultry-december-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2023
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-meat-trends-technology-july-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2023
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2023
https://digital.meatpoultry.com/sosland/mp/meatpoultry-december-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-beef-trends-technology-september-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternative-trends-and-technology-may-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2022
https://digital.meatpoultry.com/sosland/mp/special-supplement-bacon-trends-technology-march-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-february-2022
https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2022
https://digital.meatpoultry.com/sosland/mp/-meatpoultry-december-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-meat-trends-technology-october-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternatives-may-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2021
https://digital.meatpoultry.com/sosland/mp/2021_02_01
https://digital.meatpoultry.com/sosland/mp/2021_01_01
https://digital.meatpoultry.com/sosland/mp/2020_12_01
https://digital.meatpoultry.com/sosland/mp/2020_11_01
https://digital.meatpoultry.com/sosland/mp/2020_10_01
https://digital.meatpoultry.com/sosland/mp/2020_09_01
https://digital.meatpoultry.com/sosland/mp/2020_08_01
https://digital.meatpoultry.com/sosland/mp/2020_07_01
https://digital.meatpoultry.com/sosland/mp/2020_06_01
https://digital.meatpoultry.com/sosland/mp/2020_05_01
https://digital.meatpoultry.com/sosland/mp/2020_04_01
https://digital.meatpoultry.com/sosland/mp/2020_03_01
https://digital.meatpoultry.com/sosland/mp/2020_02_01
https://digital.meatpoultry.com/sosland/mp/2020_01_01
https://digital.meatpoultry.com/sosland/mp/2019_12_01
https://digital.meatpoultry.com/sosland/mp/2019_11_01
https://digital.meatpoultry.com/sosland/mp/2019_10_01
https://digital.meatpoultry.com/sosland/mp/2019_09_01
https://digital.meatpoultry.com/sosland/mp/2019_08_01
https://digital.meatpoultry.com/sosland/mp/2019_07_11
https://digital.meatpoultry.com/sosland/mp/2019_06_01
https://digital.meatpoultry.com/sosland/mp/2019_05_01
https://digital.meatpoultry.com/sosland/mp/2019_04_01
https://digital.meatpoultry.com/sosland/mp/2019_03_01
https://digital.meatpoultry.com/sosland/mp/2019_02_01
https://digital.meatpoultry.com/sosland/mp/2019_01_01
http://digital.meatpoultry.com/sosland/mp/2018_12_01
http://digital.meatpoultry.com/sosland/mp/2018_11_01
http://digital.meatpoultry.com/sosland/mp/2018_10_01
http://digital.meatpoultry.com/sosland/mp/2018_09_01
http://digital.meatpoultry.com/sosland/mp/2018_08_01
http://digital.meatpoultry.com/sosland/mp/2018_07_01
http://digital.meatpoultry.com/sosland/mp/2018_06_01
http://digital.meatpoultry.com/sosland/mp/2018_05_01
http://digital.meatpoultry.com/sosland/mp/2018_04_01
http://digital.meatpoultry.com/sosland/mp/2018_03_01
https://www.nxtbook.com/sosland/mp/2018_02_01
https://www.nxtbook.com/sosland/mp/2018_01_01
https://www.nxtbook.com/sosland/mp/2017_12_01
https://www.nxtbook.com/sosland/mp/2017_11_01
https://www.nxtbook.com/sosland/mp/2017_10_01
https://www.nxtbook.com/sosland/mp/2017_09_01
https://www.nxtbook.com/sosland/mp/2017_08_01
https://www.nxtbook.com/sosland/mp/2017_07_01
https://www.nxtbook.com/sosland/mp/2017_06_01
https://www.nxtbook.com/sosland/mp/2017_05_01
https://www.nxtbook.com/sosland/mp/2017_04_01
https://www.nxtbook.com/sosland/mp/2017_03_01
https://www.nxtbook.com/sosland/mp/2017_02_01
https://www.nxtbook.com/sosland/mp/2017_01_01
https://www.nxtbook.com/sosland/mp/2016_12_01
https://www.nxtbook.com/sosland/mp/2016_11_01
https://www.nxtbook.com/sosland/mp/2016_10_01
https://www.nxtbook.com/sosland/mp/2016_09_01
https://www.nxtbook.com/sosland/mp/2016_08_01
https://www.nxtbook.com/sosland/mp/2016_07_01
https://www.nxtbook.com/sosland/mp/2016_06_01
https://www.nxtbook.com/sosland/mp/2016_05_01
https://www.nxtbook.com/sosland/mp/2016_04_01
https://www.nxtbook.com/sosland/mp/2016_03_01
https://www.nxtbook.com/sosland/mp/2016_02_01
https://www.nxtbook.com/sosland/mp/2016_01_01
https://www.nxtbook.com/sosland/mp/2015_12_01
https://www.nxtbook.com/sosland/mp/2015_11_01
https://www.nxtbook.com/sosland/mp/2015_10_01
https://www.nxtbook.com/sosland/mp/2015_09_01
https://www.nxtbook.com/sosland/mp/2015_08_01
https://www.nxtbook.com/sosland/mp/2015_07_01
https://www.nxtbook.com/sosland/mp/2015_06_01
https://www.nxtbook.com/sosland/mp/2015_05_01
https://www.nxtbook.com/sosland/mp/2015_04_01
https://www.nxtbook.com/sosland/mp/2015_03_01
https://www.nxtbook.com/sosland/mp/2015_02_01
https://www.nxtbook.com/sosland/mp/2015_01_01_mp
https://www.nxtbook.com/sosland/mp/2014_12_01
https://www.nxtbook.com/sosland/mp/2014_11_01
https://www.nxtbook.com/sosland/mp/2014_10_01
https://www.nxtbook.com/sosland/mp/2014_09_01
https://www.nxtbook.com/sosland/mp/2014_08_01
https://www.nxtbook.com/sosland/mp/2014_07_01
https://www.nxtbook.com/sosland/mp/2014_06_01
https://www.nxtbook.com/sosland/mp/2014_05_01
https://www.nxtbook.com/sosland/mp/2014_04_01
https://www.nxtbook.com/sosland/mp/2014_03_01
https://www.nxtbook.com/sosland/mp/2014_02_01
https://www.nxtbook.com/sosland/mp/2014_01_01
https://www.nxtbook.com/sosland/mp/2013_12_01
https://www.nxtbook.com/sosland/mp/2013_11_01
https://www.nxtbook.com/sosland/mp/2013_10_01
https://www.nxtbook.com/sosland/mp/2013_09_01
https://www.nxtbook.com/sosland/mp/2013_08_01
https://www.nxtbook.com/sosland/mp/2013_07_01
https://www.nxtbook.com/sosland/mp/2013_06_01
https://www.nxtbook.com/sosland/mp/2013_05_01
https://www.nxtbook.com/sosland/mp/2013_04_01
https://www.nxtbook.com/sosland/mp/2013_03_01
https://www.nxtbook.com/sosland/mp/2013_02_01
https://www.nxtbook.com/sosland/mp/2013_01_01
https://www.nxtbook.com/sosland/mp/2012_12_01
https://www.nxtbook.com/sosland/mp/2012_11_01
https://www.nxtbook.com/sosland/mp/2012_10_01
https://www.nxtbook.com/sosland/mp/2012_09_01
https://www.nxtbook.com/sosland/mp/2012_08_01
https://www.nxtbook.com/sosland/mp/2012_07_01
https://www.nxtbook.com/sosland/mp/2012_06_01
https://www.nxtbook.com/sosland/mp/2012_05_01
https://www.nxtbook.com/sosland/mp/2012_04_01
https://www.nxtbook.com/sosland/mp/2012_03_01
https://www.nxtbook.com/sosland/mp/2012_02_01
https://www.nxtbook.com/sosland/mp/2012_01_01
https://www.nxtbook.com/sosland/mp/2011_12_01
https://www.nxtbook.com/sosland/mp/2011_11_01
https://www.nxtbook.com/sosland/mp/2011_10_01
https://www.nxtbook.com/sosland/mp/2011_09_01
https://www.nxtbook.com/sosland/mp/2011_08_01
https://www.nxtbook.com/sosland/mp/2011_07_01
https://www.nxtbook.com/sosland/mp/2011_06_01
https://www.nxtbook.com/sosland/mp/2011_05_01
https://www.nxtbook.com/sosland/mp/2011_04_01
https://www.nxtbook.com/sosland/mp/2011_03_01
https://www.nxtbook.com/sosland/mp/2011_02_01
https://www.nxtbook.com/sosland/mp/2011_01_01
https://www.nxtbook.com/sosland/mp/2010_12_01
https://www.nxtbook.com/sosland/mp/2010_11_01
https://www.nxtbook.com/sosland/mp/2010_10_01
https://www.nxtbook.com/sosland/mp/2010_09_01
http://digital.meatpoultry.com/sosland/mp/2010_08_01
http://digital.meatpoultry.com/sosland/mp/2010_07_01
http://digital.meatpoultry.com/sosland/mp/2010_06_01
http://digital.meatpoultry.com/sosland/mp/2010_05_01
http://digital.meatpoultry.com/sosland/mp/2010_04_01
http://digital.meatpoultry.com/sosland/mp/2010_03_01
http://digital.meatpoultry.com/sosland/mp/2010_02_01
http://digital.meatpoultry.com/sosland/mp/2010_01_01
http://digital.meatpoultry.com/sosland/mp/2009_12_01
http://digital.meatpoultry.com/sosland/mp/2009_11_01
http://digital.meatpoultry.com/sosland/mp/2009_10_01
http://digital.meatpoultry.com/sosland/mp/2009_09_01
http://digital.meatpoultry.com/sosland/mp/2009_08_01
http://digital.meatpoultry.com/sosland/mp/2009_07_01
http://digital.meatpoultry.com/sosland/mp/2009_06_01
http://digital.meatpoultry.com/sosland/mp/2009_05_01
http://digital.meatpoultry.com/sosland/mp/2009_04_01
http://digital.meatpoultry.com/sosland/mp/2009_03_01
http://digital.meatpoultry.com/sosland/mp/2009_02_01
http://digital.meatpoultry.com/sosland/mp/2009_01_01
http://digital.meatpoultry.com/sosland/mp/2008_12_01
http://digital.meatpoultry.com/sosland/mp/2008_11_01
http://digital.meatpoultry.com/sosland/mp/2008_10_01
http://digital.meatpoultry.com/sosland/mp/2008_09_01
http://digital.meatpoultry.com/sosland/mp/2008_08_01
http://digital.meatpoultry.com/sosland/mp/2008_07_01
http://digital.meatpoultry.com/sosland/mp/2008_06_01
http://digital.meatpoultry.com/sosland/mp/2008_05_01
http://digital.meatpoultry.com/sosland/mp/2008_04_01
http://digital.meatpoultry.com/sosland/mp/2008_03_01
http://digital.meatpoultry.com/sosland/mp/2008_02_01
http://digital.meatpoultry.com/sosland/mp/2008_01_01
http://digital.meatpoultry.com/sosland/mp/2007_12_01
http://digital.meatpoultry.com/sosland/mp/2007_11_01
http://digital.meatpoultry.com/sosland/mp/2007_10_01
http://digital.meatpoultry.com/sosland/mp/2007_09_01
http://digital.meatpoultry.com/sosland/mp/2007_08_01
http://digital.meatpoultry.com/sosland/mp/2007_07_01
http://digital.meatpoultry.com/sosland/mp/2007_06_01
http://digital.meatpoultry.com/sosland/mp/2007_05_01
http://digital.meatpoultry.com/sosland/mp/2007_04_01
http://digital.meatpoultry.com/sosland/mp/2007_03_01
http://digital.meatpoultry.com/sosland/mp/2007_02_01
http://digital.meatpoultry.com/sosland/mp/2007_01_01
http://digital.meatpoultry.com/sosland/mp/2006_12_01
http://digital.meatpoultry.com/sosland/mp/2006_11_01
http://digital.meatpoultry.com/sosland/mp/2006_10_01
http://digital.meatpoultry.com/sosland/mp/2006_09_01
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