BOSTON, Sept. 9, 2015 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE:TSN) executives told investors at the Barclays Global Consumer Staples Conference today that the company aspires to be the global innovative leader of food experiences.
"In the coming years, we have our sights set on selling more branded, protein-centric food, than any other company in the world," said Chief Commercial Officer and President, Food Service Tom Hayes. "Our focus is to accelerate profitable growth through best in class brand building and innovation in the fastest growing categories in food."
Whether they're eating at home or away from home, consumers understand the importance of protein as part of a healthy diet, and protein continues to gain momentum, outpacing the growth rate of the total food and beverage category at retail, Hayes said. Tyson Foods' growth will be generated by offering differentiated food experiences rooted in deep consumer and customer insights, he added.
Executive Vice President and Chief Financial Officer Dennis Leatherby told investors that Tyson Foods has been and should continue to produce more stable earnings and consistent growth.
"We're still on our journey, and we're well positioned only a year after completing the Hillshire merger," Leatherby said. "Our goal is to average at least 10% annual earnings per share growth over time. Our projected three-year CAGR (compounded annual growth rate) is approximately 17% from fiscal 2012 to 2015."
Challenges in the beef industry have weighed on the company's results this year, Leatherby said, but strong performances by Prepared Foods and Chicken reinforce the strategy of moving more of the product portfolio into value-added, higher-margin categories.
About Tyson Foods
Tyson 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.
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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 annual earnings per share growth and compounded annual growth rate. 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 continue to grow or the sales of our products fall below our expectations; and the risk that revenue opportunities, cost savings, synergies and other anticipated benefits from the merger may not be fully realized or may take longer to realize than expected. Additional information regarding these and other risks is included in Item 1.A. "Risk Factors" on our Form 10-K for the period ended September 27, 2014. 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.
CONTACT: Media Contact: Gary Mickelson, 479-290-6111 Investor Contact: Jon Kathol, 479-290-4235
Source:Tyson Foods, Inc.