Tyson: Pork results remain solid
The Beef, Pork and Prepared Foods units of Tyson Foods are experiencing solid results, while the long-term outlook for the company’s chicken business remains positive, Tyson officials reported at the Barclays Capital Back to School Consumer Conference.
“We’re now in the last month of our fiscal 2009, and since we reported earnings on August 3, our business has been trending pretty much as predicted,” said Leland Tollett, Tyson’s interim president and chief executive officer.
Noel White, Tyson’s senior vice president of pork margin management, provided an update on Tyson Fresh Meats, the company’s beef and pork business. “Our business model is designed to make Tyson the low cost, high revenue player in the regions we operate. These are high revenue, high volume businesses with solid returns that consistently outperform the industry averages.” He said that, unlike Tyson’s chicken business, the beef and pork businesses do not raise their own livestock for processing. White said Tyson’s Pork segment delivered record profits in 2008, and the first three quarters of 2009 have been stable.
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