Tyson Foods, Inc. has announced the financial results for its first quarter of 2018, which report an 11% growth of total company sales.
“At Tyson Foods, we’re creating a modern food company focused on protein,” said Tom Hayes, Tyson Foods President and Chief Executive Officer in a company announcement. “Building on our momentum from a record year in fiscal ’17, we’re off to a strong start in fiscal ’18. We delivered record adjusted EPS and our second-strongest quarter of operating income in Q1, with operating cash flows of more than $1.1 billion.”
Tom Hayes continued, “The strength and diversity of our portfolio are evident. We drove solid results in each of our segments—beef, pork, chicken and prepared foods. We grew topline sales, with our retail and food service sales both outpacing the industry. We’re encouraged by the position we’re in today. As we look to the long-term, we’re confident in our ability to continue growing the business. Demand for protein continues to rise, and we’re well-positioned to take advantage of that opportunity—and to fulfill our aspiration of sustainably feeding the world.”
Highlights from the quarter as expressed by Tyson are as follows:
Tyson believes that these figures are the results of lower enacted tax rates and incremental tax reform cash flow, which has allowed the company to invest in its team members with bonuses for the next quarter. For more segmented results and an outlook on how Tyson expects a 3% increase in domestic protein protection in 2018, visit the full report here. And to stay in the know on financial reports concerning the deli industry, keep reading Deli Market News.