Tyson Foods expects 2015 earnings to rise 10%

SHARE Tyson Foods expects 2015 earnings to rise 10%

Tyson Foods Inc. expects a big boost from the addition of Hillshire Brands Co.

The company told investors Thursday it expects earnings per share to increase 10 percent in the 2015 fiscal year. Tyson and Chicago-based Hillshare Brands completed its $8.5 billion combination last week, bringing together such brands as Tyson, Jimmy Dean, Hillshire Farm, Sara Lee and Ball Park.

“We’re moving forward quickly with the integration and finding synergies, and we feel good about our ability to capture $225 million in synergies in the first year and $500 million by year three,” Tyson president and CEO Donnie Smith told investors at the annual Barclays Back-to-School Consumer Conference. “The more we get into it, the better we feel.”

Hillshire, Tyson complete $8.5 billion deal

Dennis Leatherby, Tyson’s executive vice president and chief financial officer, confirmed Tyson’s earnings guidance of at least $2.78 per share for the fiscal year ending Sept. 27, excluding costs or earnings associated with the Hillshire merger.

He said the company expects Hillshire to add to earnings in fiscal 2015 and substantially increase earnings thereafter. Leatherby said he expects at least 10 percent earnings per share growth in fiscal 2015.

Tyson, based in Springdale, Arkansas, is one of the world’s largest producers of chicken, beef, pork and prepared foods. It employs about 124,000 people at more than 400 facilities and offices in the United States and around the world.

The Latest
U.S. District Judge Robert Dow Jr. has asked lawyers in a Chicago gun-rights suit to weigh in on whether Justice Clarence Thomas’s majority opinion affects the city’s ban.
The attack occurred during a violent span of seven hours in Chicago when at least 15 people were shot across the city. Earlier in the evening, a 14-year-old boy was killed and a 13-year-old was wounded in Bronzeville..
The teen is heartbroken that mother won’t discuss the subject or use the new name or pronouns.
Predictable tale wins us over with breezy style and some familiar faces.
The 14-year-old boy was killed and the 13-year-old boy wounded in Bronzeville on the South Side.