John Tyson
John Tyson
both cause disruption history members plant regret team
We regret the disruption the closings will cause our team members and these two outstanding plant communities, which both have a long history in the meatpacking industry.
across country effort help joined left lives others people powerful storm whose
We're saddened by the devastation left by this powerful storm and have joined others across the country in the effort to help those people whose lives have been disrupted,
accounting cash complete continues determine effect impossible matters offer resolve tender work
Unfortunately, it will be impossible to complete the cash tender offer by the 28th. IBP continues to work with the SEC to resolve their accounting issues. After that work is complete, we will determine what effect these matters will have on our deal.
beef chicken foods further operating pork prepared producing results segment solid struggled
Our chicken segment generated solid results and prepared foods improved, while pork struggled and beef further deteriorated, producing significant operating losses.
buying cattle continue decision freedom gratified livestock market means practices producers proves supreme
We are gratified by the Supreme Court's decision in this case. This means U. S. cattle producers will continue to have the freedom to market cattle the way they want. It also proves our livestock buying practices are proper.
act charts corporate efforts environment explains food importance including land partners precisely provide recognize report safe seek serve team treat
We recognize the importance of being a responsible corporate citizen. This report charts our efforts as we seek to do what's right for all our stakeholders. It describes precisely how we provide safe food to the marketplace, serve as stewards for the animals, land and environment and act as partners in our communities. It also explains how we treat people, including our Team Members, consumers, suppliers and the communities where we live and operate.
case evolution excited monumental ready represents step
We're excited about proceeding with this project, which represents another monumental step in the evolution of our case ready meats business,
accounting confidence forward issues management premier protein run satisfied together work
We are satisfied that IBP's accounting issues have been resolved, and have every confidence in (IBP's) management team, ... We look forward to their contribution as we work together to run the world's premier protein provider.
allow beef believe case cash cattle consumers continue decisions efficient marketing prefer producers raising rather rewards sell thousands
Thousands of producers prefer to sell cattle through marketing agreements, rather than in the cash market. The decisions in this case allow them to continue this practice, which they believe is more efficient and rewards them for raising cattle that produce the beef consumers demand.
ability advantage changing food match meet service services strengths
We will have the ability to take advantage of our strengths to service the consolidating food service marketplace. We can take and match our efficiencies and our services to meet a changing landscape.
quarter second tougher
We said the second quarter would be very tough, and it was even tougher than we anticipated.
benefit bottom clearly execution expense focus fully guidance high improving management money performance previous sales simply
While our performance was at the high end of our previous guidance, we clearly did not perform to our potential, ... Our focus is on improving our operational execution and expense management to more fully benefit from our improving sales mix. We simply have to get more money to the bottom line.
appreciate concluded hard open operate past plants worked year
We've worked hard over the past year to try to keep these plants open and I appreciate everyone's efforts. However, we've concluded we can operate more efficiently by permanently consolidating operations.
balance step tough
We will get a seasonal balance come May, June. It is going to get better. We're in a tough curve, and that's why you'll see us going to step on the accelerator when we come out of that curve.