Tyson Foods, Inc. executives told investors at the Barclays Global Consumer Staples Conference this week that the company aspires to be the global innovative leader of food experiences.
"In the coming years, we have our sights set on selling more branded, protein-centric food, than any other company in the world," said Chief Commercial Officer and President, Food Service Tom Hayes. "Our focus is to accelerate profitable growth through best in class brand building and innovation in the fastest growing categories in food."
Whether they're eating at home or away from home, consumers understand the importance of protein as part of a healthy diet, and protein continues to gain momentum, outpacing the growth rate of the total food and beverage category at retail, Hayes said. Tyson Foods' growth will be generated by offering differentiated food experiences rooted in deep consumer and customer insights, he added.
Executive Vice President and Chief Financial Officer Dennis Leatherby told investors that Tyson Foods has been and should continue to produce more stable earnings and consistent growth.
"We're still on our journey, and we're well positioned only a year after completing the Hillshire merger," Leatherby said. "Our goal is to average at least 10% annual earnings per share growth over time. Our projected three-year CAGR (compounded annual growth rate) is approximately 17% from fiscal 2012 to 2015."
Challenges in the beef industry have weighed on the company's results this year, Leatherby said, but strong performances by Prepared Foods and Chicken reinforce the strategy of moving more of the product portfolio into value-added, higher-margin categories.