Tyson Foods Stock Price, News & Analysis

Tyson Foods (NYSE: TSN) is incentivizing its frontline workers to get vaccinated against COVID-19 by offering up to four hours of regular pay for vaccinations taken off-site or outside regular shifts. The company is already providing free on-site vaccinations and expects about 1,000 workers in select states to be vaccinated this week. Tyson Foods is collaborating with Matrix Medical Network for vaccine education and continues to implement protective measures in its facilities. The incidence of COVID-19 among its U.S. team members remains low.

The Board of Directors of Tyson Foods has declared a quarterly dividend of $0.445 per share on Class A common stock and $0.4005 per share on Class B common stock. This dividend is payable on June 15, 2021, to shareholders of record as of June 1, 2021. Tyson Foods, one of the largest food companies globally, continues to focus on innovation and sustainability in its products while upholding its core values aimed at creating shareholder value and ensuring environmental stewardship.

On February 11, 2021, Maria Claudia Borras was elected to the board of directors of Tyson Foods (NYSE: TSN). Borras, currently executive vice president at Baker Hughes, brings over 25 years of experience in industrial manufacturing and services. Her expertise in leading complex operations and driving sustainable results is expected to enhance the board’s capabilities. Chairman John Tyson expressed confidence that Borras's international business experience will provide valuable insights. With this appointment, Tyson Foods aims to strengthen its leadership and commitment to sustainable food production.

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.

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.