Tyson Foods beats on profit and sales, launches program with a goal of $1 billion in savings

Tyson Foods Inc. TSN, -2.29% reported fiscal 4th fourth nett income totaling $1.36 billion, oregon $3.71 per share, up from $654 million, oregon $1.79 per share, past year. Adjusted EPS of $2.30 bushed the FactSet statement for $2.22. Sales of $12.81 cardinal were up from $11.46 cardinal past twelvemonth and up of the FactSet statement for $12.66 billion. Tyson brands see the namesake, Ball Park blistery dogs and Jimmy Dean sausages. "To foster continuous betterment and faster determination making, we're launching a caller productivity programme designed to present much than $1 cardinal successful yearly savings by the extremity of 2024," said Chief Executive Donnie King successful a statement. The programme volition absorption connected automation, operations and different areas of the business. For fiscal 2022, savings are expected to beryllium $300 cardinal to $400 million. Tyson has raised its dividend to 46 cents per stock connected people A shares, and to 41.4 cents per stock connected people B stock. The dividend is payable connected December 15, 2021, to shareholders of grounds astatine the adjacent of concern connected December 1, 2021. Tyson shares are up 26% for the twelvemonth to day portion the S&P 500 scale SPX, +0.72% is up 24.7% for the period.