"Tyson Foods positioned for continued success".
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, 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 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.
The Tyson Foods, Inc. logo is available at