Tyson Foods’ Growth Continues
December 07 2016 - 4:21PM
Tyson Foods, Inc. (NYSE:TSN) president and incoming chief executive
officer Tom Hayes and chief financial officer Dennis Leatherby
today told investors at the Bernstein Consumer Summit that the
company continues to see growth in its retail and foodservice
businesses.
“We continue to see success in leveraging consumer insights in
our prepared foods’ business, and the most recent data indicate
that our Core 9 categories and foodservice top tier offerings
continue to outperform the industry,” said Hayes.
“This growth, coupled with beef and pork segments performing
well in excess of their normalized ranges, has us poised to achieve
our best quarter in history,” he added.
He also reiterated from the company’s recent earnings call that
the company’s chicken and prepared foods margins have returned to
their normalized ranges. According to Hayes, "The first
quarter is off to a phenomenal start. As soon as the quarter
is complete, we will begin our review of annual guidance, and we
will address in the February earnings call when we have some more
visibility for the year.”
In response to a question about recent news articles describing
allegations of manipulation of the Georgia Dock index and a recent
antitrust lawsuit filing, Hayes said, “The claims made in these
stories and the lawsuit are simply not true, and we will continue
to operate our business with integrity and drive value to our
customers and consumers.”
A transcript and recording of the webcast of the Bernstein
Consumer Summit may be found at ir.tyson.com or using the
Tyson Foods investor relations app.
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 115 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 114,000
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 and brand performance. 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 1,
2016. 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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