<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended January 29, 2000 Commission File
Number 1-2402
HORMEL FOODS CORPORATION
Incorporated Under the Laws
of the State of Delaware Fein #41-0319970
1 Hormel Place
Austin, Minnesota 55912-3680
Telephone - (507) 437-5737
None
- --------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last
report.
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant.
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
YES /XXX/ NO / /
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practical date.
<TABLE>
<CAPTION>
Class Outstanding at January 29, 2000
- --------------------------------------------------------------------------------
<S> <C> <C>
Common Stock $.0586 par value 141,507,800 (post split)
Common Stock Non-Voting $.01 par value -0-
</TABLE>
Pages: This report contains eleven pages numbered sequentially from this cover
page.
<PAGE>
FORM 10-Q
PART II - OTHER INFORMATION
HORMEL FOODS CORPORATION
Item 4. Results of Votes of Security Holders.
At the Annual Meeting of Shareholders on January 25, 2000 the proposal to
approve the Hormel Foods Corporation 2000 Stock Incentive Plan was approved.
FOR AGAINST ABSTAIN
---------- --------- ---------
49,598,244 8,073,111 3,737,399
At the Annual Meeting of Shareholders on January 25, 2000 the proposal to amend
the Company's Restated Certificate of Incorporation to increase the number of
authorized shares of Common Stock and reduce the par value to effect a stock
split, and to increase the number of authorized shares of Nonvoting Common Stock
and Preferred Stock was approved.
FOR AGAINST ABSTAIN
---------- --------- ---------
48,722,716 9,191,094 3,494,944
Item 6. Exhibits and Reports on Form 8-K
The Company filed a Form 8-K on December 9, 1999 announcing that the Board of
Directors at their November 22, 1999 regular meeting authorized a two-for-one
split of its Common Stock subject to shareholder approval at the Annual Meeting.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
HORMEL FOODS CORPORATION
------------------------
(Registrant)
Date: March 14, 2000 By /s/ D. J. HODAPP
---------------------- ------------------------------
D. J. HODAPP
Executive Vice President
and Chief Financial Officer
Date: MARCH 14, 2000 By /s/ J. N. SHEEHAN
---------------------- ------------------------------
J. N. SHEEHAN
Treasurer
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> OCT-28-2000
<PERIOD-END> JAN-29-2000
<CASH> 150,354
<SECURITIES> 67,576
<RECEIVABLES> 232,621
<ALLOWANCES> 0
<INVENTORY> 267,150
<CURRENT-ASSETS> 764,826
<PP&E> 1,020,197
<DEPRECIATION> (507,541)
<TOTAL-ASSETS> 1,663,679
<CURRENT-LIABILITIES> 362,292
<BONDS> 177,070
0
0
<COMMON> 8,292
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 1,663,679
<SALES> 903,913
<TOTAL-REVENUES> 903,913
<CGS> 640,832
<TOTAL-COSTS> 640,832
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 3,561
<INCOME-PRETAX> 68,546
<INCOME-TAX> 68,546
<INCOME-CONTINUING> 24,698
<DISCONTINUED> 43,848
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 43,848
<EPS-BASIC> 0.31
<EPS-DILUTED> 0.30
</TABLE>
