According to Donnie Smith, president and CEO of Tyson Foods Inc., the company is expecting an additional $200 million in performance improvements for fiscal year 2011, on top of the $600 million already gained in the last three months.
Tyson also is benefitting from an increased demand for U.S. exports of chicken, pork and beef, according to Smith. More export volume means less protein is available in the domestic market, which typically is supportive of price. "Our focus is to deliver sustainable earnings through execution, investing in our business, a competitive cost structure, innovation, a strong balance sheet and a broad base of customers and distribution channels," said Smith. "Because we're focused on the right things, I feel good about where we'll be for the second quarter and for the fiscal year."