CORRECTING and REPLACING -- Tyson Foods on Course for More Growth
September 08 2016 - 1:08PM
In a release issued under the same headline earlier today
by Tyson Foods, Inc. (NYSE:TSN) please note that in the
fifth paragraph of the release, it should read "one of only
three companies," not "one of only two companies" as
previously stated.
The corrected release follows:
Executives from Tyson Foods, Inc. (NYSE:TSN) today
told investors at the Barclays Global Consumer Staples Conference
that the company is producing higher, more stable earnings and
sales volume growth.
“As stated on our last earnings call, our adjusted earnings
guidance for fiscal 2016 of $4.40-4.50 per share is 40 percent more
than last year and represents a four-year compound annual growth
rate of approximately 22 percent, and we’re confident we can
achieve high single digit growth in fiscal 2017,” said Donnie
Smith, Tyson Foods’ chief executive officer.
Tyson Foods is returning cash to shareholders through increasing
dividends and share repurchases totaling 31 million shares in the
previous 12 months through Aug. 8, Smith said. “Beyond dividends
and share buybacks, we’ll use our substantial cash flows to invest
in our business or make strategic acquisitions,” he said.
Tyson’s “Core 9” product lines, which feature the Tyson®, Jimmy
Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells® and State
Fair® brands, are growing and gaining momentum, according to Tom
Hayes, Tyson Foods’ president.
“The investments we made in the Core 9 to spur volume growth are
generating returns,” he said. “We continue to outpace retail food
and beverage. Tyson Core 9 is leading in volume performance among
the top 10 consumer packaged goods retail food manufacturers, and
Tyson Foods is one of only three companies to show growth in
the latest quarter. We’re growing sales volume, sales dollar
sales and market share,” Hayes said.
About Tyson FoodsTyson Foods, Inc. (NYSE:TSN),
with headquarters in Springdale, Arkansas, is one of the world's
largest food companies with leading brands such as Tyson®, Jimmy
Dean®, Hillshire Farm®, Sara Lee®, Ball Park®, Wright®,
Aidells® and State Fair®. It’s a recognized market leader in
chicken, beef and pork as well as prepared foods, including bacon,
breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and
toppings, tortillas and desserts. The company supplies retail and
foodservice customers throughout the United States and
approximately 130 countries. Tyson Foods was founded in 1935 by
John W. Tyson, whose family has continued to lead the business with
his son, Don Tyson, guiding the company for many years and
grandson, John H. Tyson, serving as the current chairman of the
board of directors. The company currently has approximately 113,000
Team Members employed at more than 400 facilities and offices in
the United States and around the world. Through its Core Values,
Code of Conduct and Team Member Bill of Rights, Tyson Foods strives
to operate with integrity and trust and is committed to creating
value for its shareholders, customers and Team Members. The company
also strives to be faith-friendly, provide a safe work environment
and serve as stewards of the animals, land and environment
entrusted to it.
To download Tyson Foods’ free investor relations app, which
offers access to SEC filings, news releases, transcripts, webcasts
and presentations, please visit the App Store for iPhone and iPad
or Google Play for Android mobile devices.
Forward Looking Statements
This release includes forward-looking statements as well as
historical information. These forward-looking statements are made
as of the date of the release and include statements relating to
projected earnings, projected compound annual growth rate, capital
strategy, brand performance, and anticipated sales and market share
growth. Actual results may vary. Factors that could cause actual
results to differ from those in the forward-looking statements
include, but are not limited to: certain categories in which our
products are sold do not grow or the sales of our products fall
below our expectations. Additional information regarding these and
other risks is included in Item 1.A. “Risk Factors” on our Form
10-K for the period ended October 3, 2015. Tyson Foods does
not assume any obligation to update the information contained in
this communication (whether as a result of new information, future
events or otherwise), except as required by applicable law.
Media Contact: Gary Mickelson, 479-290-6111
Investor Contact: Jon Kathol, 479-290-4235
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