Strong Growth in Chicken Segment
The Chicken segment delivered $457 million in adjusted operating income, an increase of 28% year-over-year, driven by higher volumes, better operational execution, and lower feed costs. This marked the fourth consecutive quarter of year-over-year volume growth.
Prepared Foods Sales and Market Share Growth
Prepared Foods saw sales growth of 3%, or 5.7% excluding the effect of a product recall, driven by higher pricing and a favorable product mix. The segment achieved a 7.4% margin in Q4 and grew its retail market share in volume and dollars.
Significant Free Cash Flow Generation
The company generated $1.2 billion in free cash flow, resulting in a strong financial position with a net leverage of 2.1x.
Robust Financial Performance
Total company sales grew 4.8% to $13.9 billion in Q4, and adjusted earnings per share increased by 25% to $1.15. Full-year adjusted EPS was $4.12, up 33% from the prior year.
Innovation and Market Penetration
The company increased its household penetration to 72% of U.S. households, with strong performances from brands like Hillshire Farm, Tyson, and Jimmy Dean. The innovation pipeline delivered products with simpler, recognizable ingredients.