Tyson Foods produces solid fourth quarter, fiscal 2018 earnings
Tyson Foods Inc., one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair, today reported the following results: Sales for the company in the 4th quarter was $9.999 billion, down from $10,145 in 2017. For the 12 months ending the fiscal year 2107, overall sales topped $40 billion, ending the year at $40,052, higher than 2017’s result of $38,260.
“Tyson Foods produced solid earnings in fiscal 2018, demonstrating the strength of our differentiated portfolio and diversified business model,” said Noel White, Tyson’s president and CEO. “We exceeded our revised guidance due to a strong finish in the fourth quarter in the Beef and Pork segments. Prepared Foods drove margin expansion, while the Chicken segment closed the gap from earlier in the year with increased promotional activity.
“While we’re not presently in a position to provide GAAP guidance1, we believe fiscal 2019 adjusted earnings will be $5.75 to $6.10 per share, based on current assumptions,” White said. “Our outlook excludes any potential impact from the closing of the Keystone acquisition and is relatively equal to fiscal 2018 earnings when excluding the income from businesses held for sale before they were divested. We expect continued strong cash flow generation as we grow sales and volume, particularly in value-added and branded products.
“I am confident in our team members and their ability to execute our strategy to sustainably feed the world with the fastest growing protein brands. Our strategy is working, and it has allowed us to produce good returns this year and will enable continued long-term growth.”
Source: Tyson Foods