Welcome to our dedicated page for Tyson Foods news (Ticker: TSN), a resource for investors and traders seeking the latest updates and insights on Tyson Foods stock.
Tyson Foods, Inc. (NYSE: TSN) is a global leader in the production and marketing of chicken, beef, pork, and prepared foods. Founded in 1935 by John W. Tyson, the company has grown under four generations of family leadership to become a major player in the protein industry.
Tyson's core business is divided into distinct segments: chicken, beef, pork, and prepared foods. Chicken and beef each account for about one-third of U.S. sales, while prepared foods make up roughly 20%. The company boasts a broad portfolio of well-known brands, including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, and Sara Lee.
In recent years, Tyson has expanded its footprint through strategic acquisitions, focusing on international and food-service markets. Despite fierce competition in many of its product categories, Tyson continues to innovate and invest in new facilities, such as the state-of-the-art plant in Bowling Green, Kentucky. This 400,000-square-foot facility produces premium quality bacon, supporting Tyson's leading position in the bacon category and creating nearly 450 new jobs in the local community.
Financially, Tyson Foods has shown resilience and adaptability. For fiscal 2024, the company projects total adjusted operating income of $1.4 billion to $1.8 billion, with significant contributions from its chicken and prepared foods segments. Capital expenditures are expected to range between $1.2 billion and $1.4 billion, underscoring Tyson's commitment to innovation and operational excellence.
Tyson is also dedicated to sustainability and corporate responsibility, partnering with educational institutions to offer technical training and enhance workforce skills. The company aims to become the most sought-after place to work by providing competitive pay, benefits, and a safe working environment.
For investors, Tyson Foods represents a robust investment opportunity, combining a strong market presence, continuous innovation, and a commitment to sustainability and operational excellence.
Tyson Foods reported first-quarter 2021 sales of $10.46 billion, down 4.4% year-over-year from $10.81 billion. Operating income fell 7% to $705 million, while net income decreased to $472 million compared to $509 million in 2020. Adjusted EPS increased 28% to $1.94. The company faced $120 million in COVID-19-related expenses but maintained liquidity at $4.2 billion. Segment performance varied, with strong earnings from Beef and Prepared Foods. The outlook for fiscal 2021 suggests stable revenue projections between $42 billion and $44 billion.
Tyson Foods has announced a strategic investment, acquiring a 49% stake in the poultry segment of Malayan Flour Mills Berhad (MFM), enhancing their supply flexibility in Malaysia. This partnership is crucial for increasing the availability of halal-certified poultry products in the region. Tyson aims to leverage MFM's expertise in poultry and its existing infrastructure to tap into Malaysia's growing halal market, projected to reach $147.4 billion by 2025. The agreement awaits shareholder approval from MFM.
Tyson Foods is launching Upward Pathways, a no-cost career development program for frontline team members. It will provide job skills training and workforce certifications, starting at ten plant locations, including Council Bluffs, Iowa. The program aims to uplift employees by offering a structured path for career advancement and will culminate in a Tyson-branded credential. This initiative builds upon the existing Upward Academy program, enhancing employee competencies in various areas such as digital fluency and soft skills.
Tyson Foods (NYSE: TSN) is piloting a new program with Matrix Medical Network to assess and verify COVID-19 safety measures at its plants. Over a dozen facilities are participating, with six already certified for safety. This certification program, developed alongside Cleveland Clinic, includes on-site assessments based on CDC and OSHA guidelines. Tyson invested $540 million in fiscal 2020 for facility upgrades and safety enhancements. The collaboration aims to establish a healthier workplace while continuing to provide vaccine education and access to its employees.
Rosen Law Firm announces an investigation into potential securities claims for Tyson Foods (NYSE: TSN) due to allegations of materially misleading information regarding its COVID-19 response. The NYC Comptroller has called for an SEC investigation, linking Tyson's actions to serious health risks that impact its operations and shareholder value. Following this news, Tyson's stock dropped by $1.78, or 2.5%, closing at $68.25 on December 15, 2020. The firm is encouraging affected investors to register for a forthcoming lawsuit.
Tyson Foods, Inc. (NYSE: TSN) will host its fiscal 2021 Q1 earnings call on February 11, 2021, at 8 a.m. EST. The company will release its Q1 financial results earlier that day. Following the earnings call, the Annual Meeting of Shareholders will commence at 11 a.m. EST as a virtual event due to COVID-19 precautions. Shareholders can participate online, accessing materials with a control number. A replay of the earnings call and meeting will be available until March 15, 2021. Tyson Foods continues to lead in protein and innovate for sustainability.
Tyson Foods is partnering with Matrix Medical Network to enhance COVID-19 vaccine access for its U.S. team members. This initiative includes the deployment of mobile health clinics and clinical staff to facilitate vaccine education and administration. Tyson Foods has committed to ensuring all employees who desire a vaccine can receive one, further solidifying its dedication to employee health and safety.
Additionally, the company has invested over $540 million in protective measures and testing strategies, indicating a strong commitment to maintaining workplace safety during the pandemic.
Tyson Foods' Jimmy Dean brand has launched two new plant-based breakfast sandwiches to address the increasing demand for meat alternatives. The products include the Jimmy Dean Plant-Based Patty, Egg & Cheese Croissant Sandwich, available now, and the Jimmy Dean Delights Plant-Based Patty & Frittata Sandwich, set to launch this Spring. These offerings cater to the growing number of flexitarian diets, with retail sales of plant-based foods up 148% since March 2020. Both sandwiches aim to deliver the brand's signature taste while providing high protein content.
Tyson Foods (NYSE: TSN) has appointed Megan Britt as the new Vice President of Investor Relations, effective January 4. She will oversee investor communications, financial media relations, and online investor content. Britt has nearly 15 years of finance experience, previously serving as Vice President of Investor Relations at Corteva Agriscience and holding various director roles at DuPont. CFO Stewart Glendinning expressed confidence in Britt's ability to enhance investor relationships, aligning with the company’s goal for long-term growth.
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