Tyson Foods reported results for the fourth quarter. Diversified portfolio drives record year for Tyson as fiscal year 2015 adjusted operating income increased 37% to $2.25 billion.
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Q4 adjusted operating income went up 21% to $568 million. Record fourth quarter adjusted operating margin was 5.8%. Cash flows from operations was $898 million.
Fiscal 2015 highlights
Record adjusted EPS of $3.15, an increase of 7% over prior year. Record adjusted sales of $40.6 billion, an increase of 9% over prior year.
Record adjusted operating income of $2.25 billion, an increase of 37% over prior year. Record cash flows from operations of $2.6 billion.
iscal 2015 was an important year for Tyson Foods, because it proved that our house of brands gives us the ability to produce record sales and earnings in less than optimum conditions, all while successfully merging two large companies," said Donnie Smith, president and chief executive officer of Tyson Foods, Inc.
"We achieved adjusted sales of more than $40 billion and adjusted EPS of $3.15, generated free cash flow of more than $1.5 billion, reduced net debt by $1.7 billion, repurchased $250 million of our stock in the fourth quarter and launched Ball Park Jerky and Hillshire Snacking – two entirely new platforms for the company," Smith said.
"We achieved $322 million in synergies for the fiscal year, and we continue to see more synergy opportunities," he added.
"We're raising our synergy estimates for fiscal 2016 to more than $500 million, and we're raising our estimate for fiscal 2017 to more than $700 million. The additional synergies will allow for more investment in innovation, new product launches and the strengthening of our brands. ■
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