BOSTON, Sept. 08, 2016 (GLOBE NEWSWIRE) -- 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 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 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
Source:Tyson Foods Inc