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Tyson Foods, Inc. (TSN) is one of the world's largest food companies, recognized as a leader in protein production, operating in four main segments: Beef, Pork, Chicken, and Prepared Foods. The company processes and markets a variety of meat products, including beef, pork, and chicken, as well as frozen and refrigerated prepared foods, to domestic and international markets . Tyson Foods' product lines feature well-known brands such as Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair® . In fiscal 2024, Tyson Foods reported total sales of $53.309 billion, with Walmart Inc. being its largest customer, accounting for 18.4% of consolidated sales .
- Beef - Processes live fed cattle into meat cuts and case-ready products for various markets.
- Chicken - Involves raising and processing chickens into fresh, frozen, and value-added products.
- Prepared Foods - Manufactures and markets frozen and refrigerated food products.
- Pork - Processes live market hogs into meat cuts for distribution.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Donnie King ExecutiveBoard | President and Chief Executive Officer | None | Donnie King has been with Tyson Foods since 1984, holding various leadership roles, including COO and Group President of Poultry. He became CEO in June 2021. | View Report → |
Adam Deckinger Executive | General Counsel and Secretary | None | Adam Deckinger joined Tyson Foods in April 2018 and became General Counsel and Secretary in January 2023. He previously worked at Boeing. | |
Brady Stewart Executive | Group President, Beef, Pork, and Supply Chain | None | Brady Stewart joined Tyson Foods in January 2023 and became Group President, Beef, Pork, and Supply Chain in August 2023. He previously worked at Smithfield Foods. | |
Curt Calaway Executive | Chief Financial Officer | None | Curt Calaway joined Tyson Foods in 2006 and became CFO in August 2024. He previously served as Senior VP of Finance and Treasurer and led M&A efforts. | |
Devin Cole Executive | President, International & Global McDonald's | None | Devin Cole rejoined Tyson Foods in March 2024 and became President, International & Global McDonald's in July 2024. He has extensive experience managing global partnerships. | |
Jacqueline Hanson Executive | Chief People Officer | None | Jacqueline Hanson joined Tyson Foods in August 2022 and became Chief People Officer in January 2024. She previously worked at John Deere. | |
Kyle Narron Executive | Group President, Prepared Foods | None | Kyle Narron joined Tyson Foods in February 2023 and became Group President, Prepared Foods in October 2024. He previously worked at Smithfield Foods and Summit Logistics Group. | |
Lori Bondar Executive | Chief Accounting Officer | None | Lori Bondar joined Tyson Foods in September 2023 and became CAO in December 2023. She previously held leadership roles at Avery Dennison and Nova Chemicals. | |
Wes Morris Executive | Group President, Poultry | None | Wes Morris rejoined Tyson Foods in January 2023 after previously working there from 1999 to 2017. He has extensive experience in poultry and prepared foods operations. | |
Cheryl S. Miller Board | Director | Board Member at Celsius Holdings; Board Member at Old Dominion Freight Line | Cheryl S. Miller has been a director since 2016. She is recognized as an "audit committee financial expert" and has extensive financial and leadership experience, including as former CEO of AutoNation. | |
David J. Bronczek Board | Director | Board Member at Yellowstone Acquisition Group | David J. Bronczek has been a director since 2020. He retired as President and COO of FedEx Corporation in 2019 after a 40-year career. | |
Jeffrey K. Schomburger Board | Director | None | Jeffrey K. Schomburger has been a director since 2016. He retired as Global Sales Officer for Procter & Gamble in 2019 after a 35-year career. | |
John H. Tyson Board | Chairman of the Board | None | John H. Tyson has been with Tyson Foods since 1973 and has served as Chairman since 1998. He was previously CEO from 2000 to 2006. | |
Kate B. Quinn Board | Director | Board Member at Rite Aid; Board Member at Fastbreak Foundation | Kate B. Quinn joined the board in 2024. She is the former Vice Chair and CAO at U.S. Bancorp and has extensive experience in business strategy, marketing, and customer experience. | |
Les R. Baledge Board | Director | Trustee of Donald J. Tyson Revocable Trust | Les R. Baledge has been a director since 2020. He previously served as EVP and General Counsel at Tyson Foods from 1999 to 2004 and has extensive legal and financial expertise. | |
Maria Claudia Borras Board | Director | Chief Growth & Experience Officer at Baker Hughes | Maria Claudia Borras has been a director since 2021. She is currently Chief Growth & Experience Officer at Baker Hughes and has over 30 years of experience in industrial manufacturing and oilfield services. | |
Maria N. Martinez Board | Director | Board Member at McKesson Corporation; Advisor to President's National Security Telecommunications Advisory Committee | Maria N. Martinez joined the board in June 2024. She has extensive experience in operations and digital transformation, previously serving as COO at Cisco Systems. | |
Mike Beebe Board | Director | Board Member at Home BancShares | Mike Beebe has been a director since 2015. He is the former Governor of Arkansas (2007-2015) and has extensive leadership experience in public service. |
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Given the ongoing challenges in your Beef segment due to compressed spreads and a lack of herd rebuilding, what specific strategies are you implementing to navigate the current cattle cycle, and how confident are you in your ability to stabilize profitability in this area?
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Despite highlighting operational improvements in your Chicken and Prepared Foods segments, how do you plan to sustain these efficiencies amid potential market volatility and rising input costs, and what measures are in place to mitigate these risks?
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With your focus on disciplined capital allocation and managing CapEx, how are you balancing investments in growth initiatives like expanding your fully cooked portfolio and digital capabilities with the need to reduce leverage and return cash to shareholders?
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Considering the network optimization initiatives and plant closures you've executed, do you anticipate further consolidation or restructuring within your operations, and how might this impact your capacity to meet customer demand and maintain service levels?
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You’ve emphasized the use of big data, predictive analytics, and AI for operational excellence and consumer insights; can you provide specific examples of how these technologies have materially improved your performance, and what challenges have you encountered in their implementation?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Walmart Inc. | Major retailer purchasing Tyson’s products across all segments | All | Approx. $9,809 million in sales for fiscal 2024 (18.4% of total sales ) and approx. $373 million in net A/R (15.5% of total net accounts receivable ). |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Williams Sausage Company | 2023 | Acquired for $223 million on May 22, 2023, this deal was structured with detailed purchase price allocations (including net working capital, PPE, goodwill, and intangible assets) and strategically bolstered Tyson’s capacity and product portfolio in its Prepared Foods segment. |
Supreme Foods Processing Company (SFPC) | 2023 | Tyson Foods acquired a 60% equity stake in SFPC in Q1 fiscal 2023 as part of a broader $75 million transaction to expand its offering of value-added and cooked meat products, with SFPC’s contributions reported under the International/Other segment though having an insignificant impact on overall income. |
Agricultural Development Company (ADC) | 2023 | A 15% equity stake in ADC was acquired as part of the combined $75 million purchase that included SFPC, enabling Tyson to strengthen its fully integrated poultry operations while accounting for the investment under the equity method. |
South American Poultry Company | 2022 | A 35% minority interest was acquired for approximately $100 million in Q4 fiscal 2022, with the equity method applied to the investment to gain exposure in the South American fully integrated poultry market. |
Recent press releases and 8-K filings for TSN.
- Tyson Foods delivered robust Q2 2025 performance with year-over-year growth in Sales, AOI, and adjusted EPS for the fourth consecutive quarter .
- Enterprise sales reached $13.1 billion (adjusted for a $343 million legal contingency), driven by strong results in Chicken, Pork, and Prepared Foods; the Chicken segment notably saw nearly double AOI compared to last year .
- Adjusted operating income improved to $515 million (a 27% increase) with margins expanding by 70 basis points, while GAAP operating income declined to $100 million .
- Fiscal 2025 guidance calls for flat to 1% sales growth and adjusted operating income between $1.9B and $2.3B, with further insights across segments including Chicken, Prepared Foods, and Beef .
- The company maintained robust liquidity at $3.2 billion, a solid balance sheet with a net leverage ratio of 2.3x, and reduced total debt by $738 million .
- Tyson Foods announced a new Revolving Credit Agreement on April 15, 2025, replacing its previous facility with aggregate commitments of $2.5 billion maturing on April 15, 2030, including two one-year extension options and potential incremental commitments of up to $500 million.
- The agreement outlines pricing details with facility fees and interest rate spreads based on the company's credit rating, ensuring compliance with key financial covenants.
- The document also covers the termination of the existing credit agreement and specifies maintaining a minimum consolidated EBITDA to cash interest expense ratio of 3.5 to 1.