Tyson Foods, a branded food manufacturer, said late Wednesday it is on track for the best quarter in its history, according to remarks made by CEO Tom Hayes at a conference.
Hayes and CFO Dennis Leatherby told investors at the Bernstein Consumer Summit the company continues to see growth in its retail and foodservice businesses.
“We continue to see success in leveraging consumer insights in our prepared foods’ business, and the most recent data indicate that our Core 9 categories and foodservice top tier offerings continue to outperform the industry,” said Hayes. “This growth, coupled with beef and pork segments performing well in excess of their normalized ranges, has us poised to achieve our best quarter in history.”
Hayes reiterated that the company’s chicken and prepared foods margins have returned to their normalized ranges, information provided on the company’s most recent earnings call. Hayes said management will review yearly guidance at the end of the quarter and provide an update in February.