Tyson Foods Stock Price, News & Analysis

Tyson Foods' Jimmy Dean brand has launched two new plant-based breakfast sandwiches to address the increasing demand for meat alternatives. The products include the Jimmy Dean Plant-Based Patty, Egg & Cheese Croissant Sandwich, available now, and the Jimmy Dean Delights Plant-Based Patty & Frittata Sandwich, set to launch this Spring. These offerings cater to the growing number of flexitarian diets, with retail sales of plant-based foods up 148% since March 2020. Both sandwiches aim to deliver the brand's signature taste while providing high protein content.

Tyson Foods (NYSE: TSN) has appointed Megan Britt as the new Vice President of Investor Relations, effective January 4. She will oversee investor communications, financial media relations, and online investor content. Britt has nearly 15 years of finance experience, previously serving as Vice President of Investor Relations at Corteva Agriscience and holding various director roles at DuPont. CFO Stewart Glendinning expressed confidence in Britt's ability to enhance investor relationships, aligning with the company’s goal for long-term growth.

Tyson Fresh Meats is temporarily halting production at its Columbus Junction, Iowa, pork plant due to a mechanical failure in the refrigeration system. The shutdown occurred on December 15, 2020, and is expected to last a few days while repairs are evaluated. All 1,100 employees will continue to receive guaranteed pay of 40 hours per week during this period. The company plans to shift production to other plants to minimize disruptions to livestock and product supplies.

Tyson Foods announced the termination of seven management employees at its Waterloo, Iowa pork plant following an independent investigation into wagering allegations. CEO Dean Banks emphasized the company’s commitment to integrity and core values, expressing disappointment over the behaviors uncovered. To restore trust, Tyson plans to enhance communication with employees and engage community leaders. Former Attorney General Eric Holder's team will assist in improving workplace respect and trust. Tyson Foods, a major player in the global protein market, employs 139,000 people.

Tyson Foods appoints Dr. Claudia Coplein as the company’s first Chief Medical Officer effective January 4, 2021. With over 20 years of healthcare experience, she will enhance the firm’s health, safety, and wellness initiatives, especially during the Covid-19 pandemic. Coplein will oversee the launch of Marathon Health clinics in seven plant communities, aiming to improve health services for team members and their families. Tyson has invested $540 million in protective measures and increased its health staff, hiring an additional 200 nurses this year.

Tyson Foods reported strong financial results for the fourth quarter and fiscal year 2020. Sales increased to $11.46 billion from $10.88 billion, with net income reaching $695 million, a significant rise from $372 million in the prior year. The GAAP EPS rose to $1.90, reflecting an 88% increase. However, the results were impacted by COVID-19 costs, totaling approximately $540 million for the year. For fiscal 2021, Tyson anticipates a revenue range of $42 billion to $44 billion and expects the beef and pork segments to remain strong, although not at 2020 levels.

Tyson Foods has launched a Forest Protection Standard to address deforestation risks within its global supply chain, covering cattle, soy, palm oil, and pulp products. Following a collaboration with Proforest, a risk assessment revealed that 94% of Tyson's land footprint is at low risk for deforestation. The company aims to develop specific Commodity Action Plans to ensure sustainable sourcing and plans to report progress in its annual Sustainability Report.

Tyson Foods (NYSE: TSN) announced plans for significant international production expansion, including new facilities in China and Thailand and an expansion in the Netherlands. This development adds over 100,000 metric tons of cooked poultry capacity, aligning with the company’s global growth strategy to meet rising protein demand. The projects are expected to create thousands of jobs in the local communities. In FY19, Tyson generated $5.4 billion in international sales, highlighting its strong market position. The company is also enhancing its e-commerce presence to cater to changing consumer preferences.

Tyson Foods (NYSE: TSN) has launched its plant-based protein brand, Raised & Rooted™, in Europe, marking its first international expansion. The range includes five varieties of plant-based products set to be introduced through foodservice customers. With a growing demand for alternative proteins, the brand aims to lead in this multi-billion-dollar market. The products, made from fava bean and pea protein, are non-GMO and free from artificial additives, produced in the Netherlands. Tyson aims to make plant-based protein more accessible while maintaining a focus on taste and texture.