Hormel CEO Says We Will Come Out of Coroanvirus Crisis

Hormel Food CEO Jim Snee remarked on CNBC’s “Mad Money” on Wednesday that when looking to China, he sees hope of coming out of the coronavirus pandemic.

Snee told Jim Cramer, “We can and will come out’ of the coronavirus pandemic. According to the CEO, business in China, once the epicenter of the public health crisis, is beginning to return.

“There is another side to this and, obviously, we’ve got to get through the eye of the storm, but we can look to China and see that we can and will come out of this,” he said in the interview.

“There’s actually a return to normalcy and so our plants are fully staffed,” Snee said. “What we’re hearing just out and about is that people are in the communities, our retail business is strong and the food service business is really starting to bounce back.”

Hormel has been around since the 1890s and has see many historical catastrophes such as world wars and the Great Depression. The company has been public since 1972.

The stock touched a new all-time high of $51.53 in intra-day trading on Wednesday.

Disclaimer: We have no position in Hormel Foods Corp. (NYSE: HRL) and have not been compensated for this article.