NEW YORK, May 19, 2010 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE:TSN) executives attended the BMO Capital Markets 2010 Agriculture, Protein & Fertilizer Conference, which included President and Chief Executive Officer Donnie Smith and Executive Vice President and Chief Financial Officer Dennis Leatherby. Smith told investors favorable market conditions for protein are expected to continue for the remainder of fiscal 2010 and into fiscal 2011.
"We've posted strong results in the first half of our fiscal year, and we expect the second half to be even better," Smith said. "The operating environment is good now, and we expect it to continue into next year."
In addition to strong fundamentals, Smith said Tyson should perform well because it is a much better company. The company has significantly reduced its debt position and has improved its operations. Tyson recently raised the normalized operating margin ranges for both its Beef and Pork segments following continued strong performance. The Prepared Foods segment's performance has improved following structural changes in 2009.
Although the Chicken segment has underperformed in the past, it has continued to recover and is expected to be within its normalized operating margin range of 5-7% for the year. "We're already seeing better results from our Chicken segment, and we've still got runway left for improvement," Smith said. "We like the fundamentals, but we love our execution and focus."
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 90 countries. The company has approximately 117,000 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 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 may include statements relating to future market conditions, the operating environment and expected results. Historical performance is not an indication of, nor does it guarantee, future results. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: consumer demand and perceptions; availability and cost of, and demand for, raw materials; and the company's ability to compete in products and prices in a competitive industry.