Meat + Poultry - June 2016 - (Page 10)

BUSINESS NOTES TYSON POSTS RECORD Q2 PERFORMANCE Tyson Foods Inc., Springdale, Arkansas, raised its annual guidance to $4.20-$4.30, as strong consumer demand along with lower costs for feed combined to lift the company's net income 40 percent in the second quarter. For the quarter ended April 2, Tyson reported net income of $432 million, or $1.07 per share, compared with $310 million, or 75 cents per share in the year-ago quarter. "Our business continues to perform very well, delivering record second quarter operating income and return on sales, in what is typically the most challenging quarter of our fiscal year," Donnie Smith, president and CEO, said in a statement. "Sales are growing in key retail "Our business continues to perform very well, delivering record second quarter operating income and return on sales, in what is typically the most challenging quarter of our fiscal year." - DONNIE SMITH, TYSON FOODS product lines. The pricing and marketing investments we've made are paying off in increased volumes in strategic products including Hillshire Farm smoked sausage and lunchmeat, Jimmy Dean breakfast sausage and Ball Park hot dogs. With a focus on the longer term, we have a three-year pipeline of innovation across all segments with exciting new product launches to keep our offerings in the retail, foodservice and international channels relevant to consumers." Sales for the quarter eased 8.1 percent to $9.17 billion from $9.98 billion. For the six months ended April 2, net income was $893 million, up from $619 million in the first six months of fiscal 2015. Sales for the first six months slipped 12 percent to $18.3 billion from $20.8 billion reported in the first six months of fiscal 2015. HORMEL RAISES GUIDANCE ON Q2 PERFORMANCE, ACQUIRES JUSTIN'S Hormel Foods Corp., Austin, Minnesota, raised its earnings guidance based on a strong second quarter in which net earnings for the company climbed 20 percent on the strength of the company's Refrigerated Foods business. "We are raising our fiscal 2016 earnings guidance range from $1.50 to $1.56 per share to $1.56 to $1.60 per share based on strong second quarter results and continued expectations for growth in the back half of the year," James P. Snee, president and COO, said in a statement. 10 MEAT+ POULTRY | 06.16 | www.meatpoultry.com For the second quarter, Hormel Foods reported net earnings of $215.4 million, or 40 cents per diluted share, for the second quarter, up 20 percent from $180.2 million, or 33 cents per diluted share a year ago. Earnings per share measures reflect a two-for-one stock split distributed on Feb. 9, the company said. Sales for the quarter climbed 1 percent to $2.3 billion. "Hormel Foods delivered strong results this quarter, our twelfth consecutive quarter of record earnings, with four of five segments achieving double-digit increases in operating profits," Jeffrey M. Ettinger, chairman and CEO, said in a statement. "Excellent results in Refrigerated Foods and Grocery Products were driven by favorable pork operating margins and solid growth posted by value-added products..." In addition to its earnings, Hormel announced an agreement to acquire Justin's, LLC, maker of Justin's brand nut butter spreads, squeeze packs, peanut butter cups and snack packs. Financial terms were not disclosed. "We are excited to work together with the Justin's team to bring these great natural and organic products to even more consumers, leveraging key Hormel Foods resources to drive continued innovation and growth to this on-trend category," Snee said. JBS SWINGS TO Q1 LOSS Challenges in the market for beef along with foreign exchange hedging weighed on first-quarter results for São Paulo, Brazil-based JBS SA. The company reported a net loss of R$2.76 billion ($789.08 million) in the first quarter of fiscal 2016, compared to net income of R$1.39 billion ($401.31 million) in the first three months of 2015. Wesley Batista, CEO of the Global Business, said challenges in the JBS USA Beef business weighed on results, but that the issues the business faced in the first quarter were not recurring. In a conference call with analysts on May 12, he also addressed the company's foreign exchange hedging strategy. The company lost R$5.8 billion ($1.7 billion). Batista said that despite the negative impact in the first quarter, the strategy of being fully hedged worked well because otherwise JBS would have lost an additional R$4.8 billion ($1.4 billion). "...so we were able to protect our results by R$4.8 billion," he said. "So, we again, even though [there] was an impact in this quarter we believe that the strategy worked well." Revenues for the quarter advanced 29.8 percent to R$43.91 billion ($12.64 billion) from R$33.82 billion ($9.74 billion) reported Q1 2015. EBITDA for the quarter dropped 22.5 percent to R$2.14 billion ($615.20 million) from R$2.76 billion ($793.98 million) compared to a year ago. http://www.meatpoultry.com

Table of Contents for the Digital Edition of Meat + Poultry - June 2016

Meat + Poultry - June 2016
CONTENTS
COMMENTARY - The wage wedge
BUSINESS NOTES - TYSON POSTS RECORD Q2 PERFORMANCE
HORMEL RAISES GUIDANCE ON Q2 PERFORMANCE, ACQUIRES JUSTIN’S
JBS SWINGS TO Q1 LOSS
EPIC PROVISIONS LAUNCHES NEW LINE OF MEAT BAR
CAGE-FREE TO RULE AT DAIRY QUEEN
OLYMEL TO EXPAND PRIMARY POULTRY PLANT
CARGILL TO STAY IN WICHITA
WASHINGTON - Food safety action
BARBECUE REPORT - Barbecue friends
FOODSERVICE - Smokin' success
EDUCATION - TEXAS BARBECUE at the head of the class
RESTAURANT REPORT - THE BBQ TRAVELER
PACKAGING SOLUTIONS - 'Bone' appetit
INGREDIENT ISSUES - Flavor infusion
SMOKY FLAVOR TOPS THE CHARTS
SMALL BUSINESS MATTERS - Meat snack marvel
SMALL BUSINESS LEADER - Checking in with the chick
COVER STORY - Preferential processsing
MARKET REPORT - Traditional innovation
FOOD SAFETY - Packer perspective
PROCESSOR PROFILE - Embracing meat snacking
CONVENTION PREVIEW - AAMPed up in Omaha
FROM THE CORRAL - Cage-free caveats
SHOWCASE
NAMES IN THE NEWS
CLASSIFIEDS
ADVERTISERS
THE INSIDER

Meat + Poultry - June 2016

https://digital.meatpoultry.com/sosland/mp/meatpoultry-january-2022
https://digital.meatpoultry.com/sosland/mp/-meatpoultry-december-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-november-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-october-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-ground-meat-trends-technology-october-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-september-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-august-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-july-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-june-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-may-2021
https://digital.meatpoultry.com/sosland/mp/special-supplement-meat-alternatives-may-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-april-2021
https://digital.meatpoultry.com/sosland/mp/meatpoultry-march-2021
https://digital.meatpoultry.com/sosland/mp/2021_02_01
https://digital.meatpoultry.com/sosland/mp/2021_01_01
https://digital.meatpoultry.com/sosland/mp/2020_12_01
https://digital.meatpoultry.com/sosland/mp/2020_11_01
https://digital.meatpoultry.com/sosland/mp/2020_10_01
https://digital.meatpoultry.com/sosland/mp/2020_09_01
https://digital.meatpoultry.com/sosland/mp/2020_08_01
https://digital.meatpoultry.com/sosland/mp/2020_07_01
https://digital.meatpoultry.com/sosland/mp/2020_06_01
https://digital.meatpoultry.com/sosland/mp/2020_05_01
https://digital.meatpoultry.com/sosland/mp/2020_04_01
https://digital.meatpoultry.com/sosland/mp/2020_03_01
https://digital.meatpoultry.com/sosland/mp/2020_02_01
https://digital.meatpoultry.com/sosland/mp/2020_01_01
https://digital.meatpoultry.com/sosland/mp/2019_12_01
https://digital.meatpoultry.com/sosland/mp/2019_11_01
https://digital.meatpoultry.com/sosland/mp/2019_10_01
https://digital.meatpoultry.com/sosland/mp/2019_09_01
https://digital.meatpoultry.com/sosland/mp/2019_08_01
https://digital.meatpoultry.com/sosland/mp/2019_07_11
https://digital.meatpoultry.com/sosland/mp/2019_06_01
https://digital.meatpoultry.com/sosland/mp/2019_05_01
https://digital.meatpoultry.com/sosland/mp/2019_04_01
https://digital.meatpoultry.com/sosland/mp/2019_03_01
https://digital.meatpoultry.com/sosland/mp/2019_02_01
https://digital.meatpoultry.com/sosland/mp/2019_01_01
http://digital.meatpoultry.com/sosland/mp/2018_12_01
http://digital.meatpoultry.com/sosland/mp/2018_11_01
http://digital.meatpoultry.com/sosland/mp/2018_10_01
http://digital.meatpoultry.com/sosland/mp/2018_09_01
http://digital.meatpoultry.com/sosland/mp/2018_08_01
http://digital.meatpoultry.com/sosland/mp/2018_07_01
http://digital.meatpoultry.com/sosland/mp/2018_06_01
http://digital.meatpoultry.com/sosland/mp/2018_05_01
http://digital.meatpoultry.com/sosland/mp/2018_04_01
http://digital.meatpoultry.com/sosland/mp/2018_03_01
https://www.nxtbook.com/sosland/mp/2018_02_01
https://www.nxtbook.com/sosland/mp/2018_01_01
https://www.nxtbook.com/sosland/mp/2017_12_01
https://www.nxtbook.com/sosland/mp/2017_11_01
https://www.nxtbook.com/sosland/mp/2017_10_01
https://www.nxtbook.com/sosland/mp/2017_09_01
https://www.nxtbook.com/sosland/mp/2017_08_01
https://www.nxtbook.com/sosland/mp/2017_07_01
https://www.nxtbook.com/sosland/mp/2017_06_01
https://www.nxtbook.com/sosland/mp/2017_05_01
https://www.nxtbook.com/sosland/mp/2017_04_01
https://www.nxtbook.com/sosland/mp/2017_03_01
https://www.nxtbook.com/sosland/mp/2017_02_01
https://www.nxtbook.com/sosland/mp/2017_01_01
https://www.nxtbook.com/sosland/mp/2016_12_01
https://www.nxtbook.com/sosland/mp/2016_11_01
https://www.nxtbook.com/sosland/mp/2016_10_01
https://www.nxtbook.com/sosland/mp/2016_09_01
https://www.nxtbook.com/sosland/mp/2016_08_01
https://www.nxtbook.com/sosland/mp/2016_07_01
https://www.nxtbook.com/sosland/mp/2016_06_01
https://www.nxtbook.com/sosland/mp/2016_05_01
https://www.nxtbook.com/sosland/mp/2016_04_01
https://www.nxtbook.com/sosland/mp/2016_03_01
https://www.nxtbook.com/sosland/mp/2016_02_01
https://www.nxtbook.com/sosland/mp/2016_01_01
https://www.nxtbook.com/sosland/mp/2015_12_01
https://www.nxtbook.com/sosland/mp/2015_11_01
https://www.nxtbook.com/sosland/mp/2015_10_01
https://www.nxtbook.com/sosland/mp/2015_09_01
https://www.nxtbook.com/sosland/mp/2015_08_01
https://www.nxtbook.com/sosland/mp/2015_07_01
https://www.nxtbook.com/sosland/mp/2015_06_01
https://www.nxtbook.com/sosland/mp/2015_05_01
https://www.nxtbook.com/sosland/mp/2015_04_01
https://www.nxtbook.com/sosland/mp/2015_03_01
https://www.nxtbook.com/sosland/mp/2015_02_01
https://www.nxtbook.com/sosland/mp/2015_01_01_mp
https://www.nxtbook.com/sosland/mp/2014_12_01
https://www.nxtbook.com/sosland/mp/2014_11_01
https://www.nxtbook.com/sosland/mp/2014_10_01
https://www.nxtbook.com/sosland/mp/2014_09_01
https://www.nxtbook.com/sosland/mp/2014_08_01
https://www.nxtbook.com/sosland/mp/2014_07_01
https://www.nxtbook.com/sosland/mp/2014_06_01
https://www.nxtbook.com/sosland/mp/2014_05_01
https://www.nxtbook.com/sosland/mp/2014_04_01
https://www.nxtbook.com/sosland/mp/2014_03_01
https://www.nxtbook.com/sosland/mp/2014_02_01
https://www.nxtbook.com/sosland/mp/2014_01_01
https://www.nxtbook.com/sosland/mp/2013_12_01
https://www.nxtbook.com/sosland/mp/2013_11_01
https://www.nxtbook.com/sosland/mp/2013_10_01
https://www.nxtbook.com/sosland/mp/2013_09_01
https://www.nxtbook.com/sosland/mp/2013_08_01
https://www.nxtbook.com/sosland/mp/2013_07_01
https://www.nxtbook.com/sosland/mp/2013_06_01
https://www.nxtbook.com/sosland/mp/2013_05_01
https://www.nxtbook.com/sosland/mp/2013_04_01
https://www.nxtbook.com/sosland/mp/2013_03_01
https://www.nxtbook.com/sosland/mp/2013_02_01
https://www.nxtbook.com/sosland/mp/2013_01_01
https://www.nxtbook.com/sosland/mp/2012_12_01
https://www.nxtbook.com/sosland/mp/2012_11_01
https://www.nxtbook.com/sosland/mp/2012_10_01
https://www.nxtbook.com/sosland/mp/2012_09_01
https://www.nxtbook.com/sosland/mp/2012_08_01
https://www.nxtbook.com/sosland/mp/2012_07_01
https://www.nxtbook.com/sosland/mp/2012_06_01
https://www.nxtbook.com/sosland/mp/2012_05_01
https://www.nxtbook.com/sosland/mp/2012_04_01
https://www.nxtbook.com/sosland/mp/2012_03_01
https://www.nxtbook.com/sosland/mp/2012_02_01
https://www.nxtbook.com/sosland/mp/2012_01_01
https://www.nxtbook.com/sosland/mp/2011_12_01
https://www.nxtbook.com/sosland/mp/2011_11_01
https://www.nxtbook.com/sosland/mp/2011_10_01
https://www.nxtbook.com/sosland/mp/2011_09_01
https://www.nxtbook.com/sosland/mp/2011_08_01
https://www.nxtbook.com/sosland/mp/2011_07_01
https://www.nxtbook.com/sosland/mp/2011_06_01
https://www.nxtbook.com/sosland/mp/2011_05_01
https://www.nxtbook.com/sosland/mp/2011_04_01
https://www.nxtbook.com/sosland/mp/2011_03_01
https://www.nxtbook.com/sosland/mp/2011_02_01
https://www.nxtbook.com/sosland/mp/2011_01_01
https://www.nxtbook.com/sosland/mp/2010_12_01
https://www.nxtbook.com/sosland/mp/2010_11_01
https://www.nxtbook.com/sosland/mp/2010_10_01
https://www.nxtbook.com/sosland/mp/2010_09_01
http://digital.meatpoultry.com/sosland/mp/2010_08_01
http://digital.meatpoultry.com/sosland/mp/2010_07_01
http://digital.meatpoultry.com/sosland/mp/2010_06_01
http://digital.meatpoultry.com/sosland/mp/2010_05_01
http://digital.meatpoultry.com/sosland/mp/2010_04_01
http://digital.meatpoultry.com/sosland/mp/2010_03_01
http://digital.meatpoultry.com/sosland/mp/2010_02_01
http://digital.meatpoultry.com/sosland/mp/2010_01_01
http://digital.meatpoultry.com/sosland/mp/2009_12_01
http://digital.meatpoultry.com/sosland/mp/2009_11_01
http://digital.meatpoultry.com/sosland/mp/2009_10_01
http://digital.meatpoultry.com/sosland/mp/2009_09_01
http://digital.meatpoultry.com/sosland/mp/2009_08_01
http://digital.meatpoultry.com/sosland/mp/2009_07_01
http://digital.meatpoultry.com/sosland/mp/2009_06_01
http://digital.meatpoultry.com/sosland/mp/2009_05_01
http://digital.meatpoultry.com/sosland/mp/2009_04_01
http://digital.meatpoultry.com/sosland/mp/2009_03_01
http://digital.meatpoultry.com/sosland/mp/2009_02_01
http://digital.meatpoultry.com/sosland/mp/2009_01_01
http://digital.meatpoultry.com/sosland/mp/2008_12_01
http://digital.meatpoultry.com/sosland/mp/2008_11_01
http://digital.meatpoultry.com/sosland/mp/2008_10_01
http://digital.meatpoultry.com/sosland/mp/2008_09_01
http://digital.meatpoultry.com/sosland/mp/2008_08_01
http://digital.meatpoultry.com/sosland/mp/2008_07_01
http://digital.meatpoultry.com/sosland/mp/2008_06_01
http://digital.meatpoultry.com/sosland/mp/2008_05_01
http://digital.meatpoultry.com/sosland/mp/2008_04_01
http://digital.meatpoultry.com/sosland/mp/2008_03_01
http://digital.meatpoultry.com/sosland/mp/2008_02_01
http://digital.meatpoultry.com/sosland/mp/2008_01_01
http://digital.meatpoultry.com/sosland/mp/2007_12_01
http://digital.meatpoultry.com/sosland/mp/2007_11_01
http://digital.meatpoultry.com/sosland/mp/2007_10_01
http://digital.meatpoultry.com/sosland/mp/2007_09_01
http://digital.meatpoultry.com/sosland/mp/2007_08_01
http://digital.meatpoultry.com/sosland/mp/2007_07_01
http://digital.meatpoultry.com/sosland/mp/2007_06_01
http://digital.meatpoultry.com/sosland/mp/2007_05_01
http://digital.meatpoultry.com/sosland/mp/2007_04_01
http://digital.meatpoultry.com/sosland/mp/2007_03_01
http://digital.meatpoultry.com/sosland/mp/2007_02_01
http://digital.meatpoultry.com/sosland/mp/2007_01_01
http://digital.meatpoultry.com/sosland/mp/2006_12_01
http://digital.meatpoultry.com/sosland/mp/2006_11_01
http://digital.meatpoultry.com/sosland/mp/2006_10_01
http://digital.meatpoultry.com/sosland/mp/2006_09_01
http://digital.meatpoultry.com/sosland/mp/2006_08_01
http://digital.meatpoultry.com/sosland/mp/2006_07_01
http://digital.meatpoultry.com/sosland/mp/2006_06_01
http://digital.meatpoultry.com/sosland/mp/2006_05_01
http://digital.meatpoultry.com/sosland/mp/2006_04_01
http://digital.meatpoultry.com/sosland/mp/2006_03_01
http://digital.meatpoultry.com/sosland/mp/2006_02_01
http://digital.meatpoultry.com/sosland/mp/2006_01_01
http://digital.meatpoultry.com/sosland/mp/2005_12_01
http://digital.meatpoultry.com/sosland/mp/2005_11_01
http://digital.meatpoultry.com/sosland/mp/2005_10_01
http://digital.meatpoultry.com/sosland/mp/2005_09_01
http://digital.meatpoultry.com/sosland/mp/2005_08_01
http://digital.meatpoultry.com/sosland/mp/2005_07_01
http://digital.meatpoultry.com/sosland/mp/2005_06_01
http://digital.meatpoultry.com/sosland/mp/2005_05_01
http://digital.meatpoultry.com/sosland/mp/2005_04_01
http://digital.meatpoultry.com/sosland/mp/2005_03_01
http://digital.meatpoultry.com/sosland/mp/2005_02_01
http://digital.meatpoultry.com/sosland/mp/2005_01_01
http://digital.meatpoultry.com/sosland/mp/2004_12_01
http://digital.meatpoultry.com/sosland/mp/2004_11_01
http://digital.meatpoultry.com/sosland/mp/2004_10_01
http://digital.meatpoultry.com/sosland/mp/2004_09_01
http://digital.meatpoultry.com/sosland/mp/2004_08_01
http://digital.meatpoultry.com/sosland/mp/2004_07_01
http://digital.meatpoultry.com/sosland/mp/2004_06_01
http://digital.meatpoultry.com/sosland/mp/2004_05_01
http://digital.meatpoultry.com/sosland/mp/2004_04_01
http://digital.meatpoultry.com/sosland/mp/2004_03_01
http://digital.meatpoultry.com/sosland/mp/2004_02_01
http://digital.meatpoultry.com/sosland/mp/2004_01_01
http://digital.meatpoultry.com/sosland/mp/2003_12_01
http://digital.meatpoultry.com/sosland/mp/2003_10_01
https://www.nxtbookmedia.com