US - An expanded portfolio of strong brands, increased focus on the consumer and the creation of acquisition synergies are among the reasons Tyson Foods, is built for growth, company officials told investors and analysts during Tyson Foods' Investor Day at the New York Stock Exchange.
Chairman John Tyson, President and CEO Donnie Smith and members of the company's senior management team spoke at the event, which showcased the new Tyson Foods after its recent acquisition of The Hillshire Brands Company.
Tyson Foods' leaders emphasized the significance of the recent acquisition. They noted Tyson Foods now has the number one brand in breakfast sausage, fresh chicken, frozen, fully-cooked chicken, frozen protein breakfast, smoked sausage, hot dogs, corndogs and super premium sausage.
"This is an exciting time as we integrate Hillshire Brands into Tyson Foods and we have set higher expectations for growth," Donnie Smith said.
"The depth and breadth of our portfolio, our continued growth in value-added poultry and prepared foods, our well-positioned brands, our category leadership and the synergies we're capturing are unlinking us from the volatility of the commodity markets."
Chief Financial Officer Dennis Leatherby provided a financial outlook, reiterating that company leaders expect fiscal 2015 to be another strong year. Tyson Foods is projecting revenues of approximately $42 billion and adjusted earnings for the year in the range of $3.30-3.40 per share. This represents an increase of at least 12 percent compared to fiscal 2014.
"We believe we are your best investment opportunity in food because we have all the tools in the toolbox to continue our growth, and everything we do is focused on consistent earnings growth over time," Mr Smith said.
Chairman John Tyson also announced today that Donnie Smith has been named to the company's board of directors.
"Donnie's election to our board not only cements the already strong alignment between the board and our senior management, but demonstrates our shared commitment to a strategic business plan designed to continue delivering impressive growth," Mr Tyson said.ThePoultrySite News Desk