Tue, Sep. 27, 9:05 PM
- Tyson Foods (NYSE:TSN) says it is recalling 60 tons of fully cooked chicken nuggets that may be contaminated with hard plastic.
- TSN says a “small number of consumers” said they found pieces of hard, white plastic in the nuggets, which the company says may have come from a rod used in the manufacturing process; there are no confirmed reports of adverse reactions to the products.
- TSN says the nuggets were supplied to Costco stores and a Pennsylvania wholesaler.
Thu, Sep. 8, 12:24 PM
- Tyson Foods (TSN -0.8%) updated shareholders during a presentation today a the Barclays Global Consumer Staples Conference.
- FY16 EPS of $4.40-4.50 is seen. "We’re confident we can achieve high single digit growth in fiscal 2017,” said CEO Donnie Smith.
- “Beyond dividends and share buybacks, we’ll use our substantial cash flows to invest in our business or make strategic acquisitions,” added Smith.
- Tyson says its Core 9” product lines (Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells and State Fair brands) are growing and gaining momentum.
- Source: Press Release
Mon, Aug. 8, 5:18 PM
Mon, Aug. 8, 8:09 AM
- Tyson Foods (NYSE:TSN) reports total sales volume declined 2.7% in FQ3.
- Segment Sales: Chicken: $2.743B (-0.5%); Beef: $3.783B (-12.1%); Pork: $1.271B (+5.3%); Prepared Foods: $1.809B (-0.1%); Other: $99M (-59.4%).
- Segment Volume change: Chicken -0.9%; Beef +2.9%; Pork -1.7%; Prepared Foods +1.9%.
- Segment Average Price change: Chicken +0.4%; Beef -14.6%; Pork +7.2%; Prepared Foods -1.9%.
- Gross margin rate improved 320 bps to 13%.
- SG&A expense rate grew 70 bps to 4.9%.
- Operating margin by segment: Chicken 13.9%, Beef 2.4%, Pork 9.6%, Prepared Foods 10.9%.
- Adjusted operating margin rate expanded 260 bps to 8.2%.
- The company expects overall domestic protein production to increase ~2% to 3% (Y/Y) in FY2017.
- FY2016 Guidance: Sales: ~$37B; Chicken operating margin: ~ more than 12%; Beef: normalized range of 1.5% - 3%; Pork operating margin: above 10%; Prepared Foods operating margin: normalized range of 10% - 12%; Other operating loss: ~$90M; Adjusted EPS: $4.40 - $4.50; Capital expenditure: ~725M; Net interest expense: ~$245M; Liquidity: in excess of $1.2B.
- TSN +2.87% premarket.
Mon, Aug. 8, 7:32 AM
Sun, Aug. 7, 5:30 PM
Mon, Jul. 11, 2:12 PM
- A bill requiring food companies to label GMO ingredients was approved by the U.S. Senate by a 63 to 30 vote and now heads to the House of Representatives.
- The negotiated bill requires food companies to label genetically modified food by a phrase, symbol on the package, or a bar code that can be scanned by smartphones.
- The Department of agriculture still has two years to write the precise labeling rules if the House approves the bill.
- The passage of the bill is seen as a positive for the food sector as the alternative of having to adhere to state-by-state rules could create operational chaos for national sellers.
- Food stocks: SENEA, SENEB, THS, OTCPK:NCRA, CPB, MDLZ, GIS, OTCPK:NSRGY, FLO, CAG, DF, SJM,DF, ANFI, JJSF, WWAV, UL, OTCQX:DANOY, OTCPK:PLATF, POST, K, PEP, DMND, PF, HAIN, KO, BETR, KHC, WILC, PPC, PF, LWAY, HRL, TSN, DTEA, SAFM, BRID.
Mon, Jun. 6, 10:04 AM
- BMO Capital takes a dimmer view on the upside for meat producers after factoring in the strong rally in the sector which has pushed up valuation levels.
- Tyson Foods (TSN -3.4%) and Pilgrim's Pride (PPC -3%) are both moved by BMO to Market Perform from Outperform.
- BMO set a price target of $69 on TSN and PPC caught a $27 PT.
- It's a weak day across the sector with Sanderson Farms (SAFM -1.9%), Hormel (HRL -0.7%) and JBS (OTCQX:JBSAY -2.3%) ADRs all lower.
- Related sector news: Plant-based hamburger startup creates some interesting sizzle (June 4)
Sat, Jun. 4, 1:19 PM
- Impossible Foods aims to disrupt the food industry by developing meat products from plant-based ingredients. Launched by a top biochemist from Stanford, the startup says it's on the verge of offering meat lovers an alternative that looks, smells, and even sizzles (video) like regular ground beef.
- Science timeout: Impossible honed in on a molecule called heme that catalyzes the flavors in meat. A legume-derived heme-containing protein is put to the task of creating the meat taste that even top chefs have raved about.
- The first Impossible Burgers are expected to be launched this year in the U.S.
- Notable names are taking in an interest in the concept. During the last venture capital round, Impossible brought in fresh funds from Bill Gates and Hong Kong tycoon Li Ka-shing. Former Nest/Google exec Tony Fadell is also an angel investor. Impossible Foods CEO Patrick Brown confirmed at Recode's Code conference that the company turned down an offer from Google (pre-Alphabet split) for somewhere between $200M and $300M.
- If the startup were to ramp up at scale, the development might be something to watch for meat giants such as Cargill, Tyson Foods (NYSE:TSN), JBS (OTC:JBSAF), and National Beef Packaging Company (NYSE:LUK). Kraft Heinz (NASDAQ:KHC) and Kellogg (NYSE:K) are already active in the frozen veggie burger category, while Whole Foods Market (NASDAQ:WFM) has been dabbling with indie brands. There's also an interesting tie-in with McDonald's (NYSE:MCD) looking to appeal to millennials and Chipotle (NYSE:CMG) working on developing a "better burger" concept.
Wed, May 25, 11:44 AM
Wed, May 11, 11:22 AM
- Tyson Foods (TSN -0.8%) emerged victorious from a legal battle over the use of the phrase "Park's Finest" to describe a line of hot dogs made by the Hillshire Brands unit.
- The judge in the case tossed out the lawsuit filed by Parks LLC after determining that consumers weren't being deceived with Tyson's advertising.
Mon, May 9, 4:45 PM
Mon, May 9, 12:33 PM
- Tyson Foods (TSN +1.7%) plans to sell meal kits on Amazon Fresh later this fall, according to execs on today's earnings call.
- The company tipped off an expansion of its relationship with Amazon Fresh earlier this year.
- Tyson earnings call webcast
- Previously: Tyson Foods beats by $0.11, beats on revenue (May 9)
- Previously: Tyson Foods at all-time high after earnings dazzle (May 9)
Mon, May 9, 9:00 AM
- Tyson Foods (NYSE:TSN) is setting new all-time highs in early trading after the company boosted its profit outlook.
- The company expects full-year EPS of $4.20 to $4.30 vs. $3.85 to $3.95 prior and $4.06 consensus.
- Strong demand for meat products and low costs for animal feed continues to help Tyson's bottom line.
- TSN +4.09% premarket to $69.99 to top the $68.84 high set earlier in the month.
- Previously: Tyson Foods beats by $0.11, beats on revenue (May 9)
Mon, May 9, 7:32 AM
Sun, May 8, 5:30 PM