Tyson Foods, Inc. (NYSE:TSN) Q4 2017 Earnings Conference Call - Final Transcript

Nov 13, 2017 • 09:00 am ET


Tyson Foods, Inc. (NYSE:TSN) Q4 2017 Earnings Conference Call - Final Transcript


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Good morning and welcome to the Tyson Foods Fourth Quarter Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded.

At this time, I would like to turn the conference over to Jon Kathol, Vice President of Investor Relations. Please go ahead, sir.

Jon Kathol

Good morning and welcome to the Tyson Foods Incorporated fourth quarter earnings conference call of the 2017 fiscal year. On today's call are Tom Hayes, President and Chief Executive Officer; and Dennis Leatherby, Executive Vice President and Chief Financial Officer. Also with us is Stewart Glendenning, who will become our Chief Financial Officer effective February 10, 2018. Of course it's a little early to expect him to answer any questions. Slides accompanying today's prepared remarks are available as a quarterly supplemental report on the Investor Relations section of our website at ir.tyson.com.

Tyson Foods issued an earnings release this morning, which has been furnished to the SEC on Form-8K and is available on our website at ir.tyson.com. (Forward-Looking Cautionary Statements) I would like to remind everyone that this call is being recorded on Monday, November 13, 2017 at 9:00 a.m. eastern time. A replay of today's call will be available on Tyson's website approximately one hour after the conclusion of this call. This broadcast is the property of Tyson Foods and any redistribution, retransmission, or rebroadcast of this call in any form without the express written consent of Tyson Foods is strictly prohibited.

I'll now turn the call over to Tom Hayes.

Tom Hayes

Thank you very much, Jon. And good morning, everybody, and thanks for joining us as we wrap up another record year. I want to start by acknowledging the announcement that we made last Wednesday about our CFO transition from Dennis to Stewart. We have company-wide townhall meetings after these earnings calls each quarter and we call those Team Talk. And so we're just absolutely thrilled that Stewart can be here with us so he has a chance to meet folks in person. And this is Dennis' second to last earnings call and so it's bittersweet, but Tyson has had the pleasure of having Dennis on the team for many many years.

As you know, he's been the CFO since 2008 and nearly 30 years with the Company, countless contributions. He's been an integral part of my first year as CEO. So Dennis, on behalf of everybody at Tyson, let me just publicly say thank you for everything you've done for the Company and we appreciate you, we thank you, and we're going to be looking forward to having a proper sendoff in the spring. But right now, Stewart also welcome. Thanks for joining us today. As you know, you have some big shoes to fill, but we're happy to have you and just thrilled that you made the decision to join the Tyson Foods family and we're looking forward to the massive contributions we