"Tyson Foods positioned for continued success".
Donnie Smith, president and chief executive officer of Tyson Foods Tyson Foods, Inc. (NYSE: TSN) is an American multinational corporation based in Springdale, Arkansas, that operates in the food industry. The company is the world's largest processor and marketer of chicken, beef, and pork, and annually exports the largest percentage of beef , Inc. (NYSE NYSE
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TSN Time Since New ), recently told the Bank of America/Merrill Lynch 2011 Consumer Conference that Tyson is well positioned to handle challenging economic times. Smith said the company's strong balance sheet, focus on execution and recent operational improvements have allowed the company to compete effectively, even in the face of rising input costs.
Smith, who was accompanied at the conference by Dennis Leatherby, Tyson's executive vice president and chief financial officer, said Tyson's Beef and Pork segments are extremely efficient and competitive, while its Chicken segment has improved significantly.
"In the past three years, our chicken business achieved $600 million in performance improvements, and we expect an additional $200 million in fiscal 2011," Smith said.
The company also is benefitting from an increased demand for U.S. exports of beef, pork and chicken. More export volume means less protein is available in the domestic market, which typically is supportive of price.
"Our focus is to deliver sustainable earnings through execution, investing in our business, a competitive cost structure, innovation, a strong balance sheet and a broad base of customers and distribution channels," Smith said. "Because we're focused on the right things, I feel good about where we'll be for the second quarter and for the fiscal year."
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN), founded in 1935 with headquarters in Springdale, Arkansas For the Fayetteville-Springdale-Rogers Metropolitan Area (Northwest Arkansas), see .
Springdale is a city in Washington and Benton counties in the northwestern region of Arkansas in the United States. , is one of the world's largest processors and marketers of chicken, beef and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. Tyson provides products and services to customers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and more than 100 countries. The company has approximately 115,000 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 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 faithfriendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
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