LONDON, March 22, 2016 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE:TSN) has made significant progress in its transition from a protein producer to a branded, value-added food company with stronger, more stable earnings, company executives told investors at the Consumer Analyst Group of Europe annual conference today.
Donnie Smith, president and chief executive officer, said Tyson Foods is in a unique position to grow and create value.
“We’re in categories growing at a rate higher than the total Food and Beverage category, our product mix is driving margin expansion, we’re building brand advocates, and we’re investing in growth,” Smith said. “We’re changing with the consumer, and that has led to the incredible innovation momentum we're generating. We’ve been able to consistently increase our new product vitality and deliver innovation numbers that put us among the top of branded food companies, and we’re just getting started.”
Dennis Leatherby, executive vice president and chief financial officer, said Tyson Foods is in a strong financial position that will enable future growth.
“With our current fiscal 2016 earnings guidance, which we raised during our last earnings call due to very strong first quarter results, the four-year projected CAGR (compound annual growth rate) is over 18 percent, easily surpassing our goal to deliver at least 10 percent annual earnings per share growth over time,” Leatherby said.
He added that maintaining a solid balance sheet is a priority for the company due to the options it provides. “We are capable of making multiple strategic moves,” he said. “We generate a lot of cash, and we have plenty of liquidity and debt capacity to take advantage of the right opportunities when they come along.”
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 margin expansion, brand performance, projected earnings, projected compound annual growth rate, and capital strategy. 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
Source:Tyson Foods Inc