Tyson Foods, Inc. (TSN) delivered double digit sales and earnings growth during the fourth quarter of fiscal 2021. Volumes were down 4% in the fourth quarter. Looking forward, the company projects solid profitability in fiscal 2022. Sales growth is estimated in a range of 5-7%, and volume growth in a range of 2-3%.
To foster continuous improvement and faster decision making, the company launched a new productivity program designed to deliver more than $1 billion in annual savings by the end of 2024. The focus of the plan includes operational and functional excellence, digital solutions, and automation and advanced technologies. The company is targeting productivity savings of $300 million to $400 million in fiscal 2022, relative to a fiscal 2021 cost baseline.
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