Latest news with #MeatIndustry
RNZ News
10-08-2025
- Business
- RNZ News
New seasonal worker visas 'awesome' for rural contactors
The Meat Industry Association said processors were needing hundreds of workers. Photo: Meat Industry Association The head one of New Zealand's biggest exporters says new visas for seasonal workers will be vital in keeping the industry running. The government has introduced two new work visas for seasonal workers, which Immigration Minister Erica Stanford said visas would make it easier for employers to retain the same workers for multiple seasons. The Global Workforce Seasonal Visa is for up to three years for experienced seasonal workers in roles such as rural contracting, sheep scanning, winemaking, and snow instruction. Workers will need to return to their home countries for at least three months each year. The Peak Seasonal Visa is valid for up to seven months for short-term seasonal roles like meat and seafood processing, calf-rearing, and wool handling. Visa holders will have to have at least one season of previous relevant experience and people will need to leave New Zealand for at least four months before the visa can be renewed. For visas over three months there will be a new requirement for insurance with health coverage. Meat Industry Association chief executive Sirma Karapeeva said meat processors often struggle to find workers especially in peak season, when hundreds of workers are needed. "We are very mindful we need to prioritise and ... employ New Zealanders first and foremost but when labour is short and we can't find the necessary labour we are forced to look elsewhere." Erica Stanford Photo: RNZ / Angus Dreaver "We know the success of our seasonal industries is critical to growing the economy. These new visas will make it easier for employers to bring back experienced seasonal workers and to fill short-term roles that are hard to fully staff locally," Stanford said. Business New Zealand chief executive Katherine Rich said the move was a chance for sectors with periods of high demand to have consistency in workers from overseas. Agriculture and tourism operators would not have to "start from scratch" every year, and would know the person's skill level and whether they were a fit for the organisation. Simpler processes and certainty of workforce quality would provide better value for a wide range of businesses, she said. Rich was confident the new rules wouldn't disadvantage local workers, since employers still had to prove they could not fill the role with a New Zealander Federated Farmers said it would make a huge difference to the agriculture sector. Immigration spokesperson Karl Dean said having good staff who would be able to return three years in a row would help rural contractors. "It's awesome, because it's the training and getting people used to your processes, your health and safety, the farms you deal with, is what does cost a business." Applications for both visas open on 8 December. The exisiting recognised seasonal employer (RSE) scheme which will continue unchanged. The new visas will replace the interim seasonal Specific Purpose Work Visa, was introduced in 2024 as a short-term measure to meet seasonal workforce needs.
Yahoo
04-08-2025
- Business
- Yahoo
Tyson Foods (NYSE:TSN) Posts Better-Than-Expected Sales In Q2
Meat company Tyson Foods (NYSE:TSN) announced better-than-expected revenue in Q2 CY2025, with sales up 3.6% year on year to $13.88 billion. Its non-GAAP profit of $0.91 per share was 16.2% above analysts' consensus estimates. Is now the time to buy Tyson Foods? Find out in our full research report. Tyson Foods (TSN) Q2 CY2025 Highlights: Revenue: $13.88 billion vs analyst estimates of $13.5 billion (3.6% year-on-year growth, 2.9% beat) Adjusted EPS: $0.91 vs analyst estimates of $0.78 (16.2% beat) Adjusted EBITDA: $589 million vs analyst estimates of $807 million (4.2% margin, 27% miss) Operating Margin: 1.9%, in line with the same quarter last year Free Cash Flow Margin: 3.9%, similar to the same quarter last year Sales Volumes were flat year on year (1.1% in the same quarter last year) Market Capitalization: $18.71 billion "Our third quarter results demonstrate the strength of our multi-protein, multi-channel portfolio and our relentless focus on operational excellence," said Donnie King, President & CEO of Tyson Foods. Company Overview Started as a simple trucking business, Tyson Foods (NYSE:TSN) is one of the world's largest producers of chicken, beef, and pork. Revenue Growth A company's long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. With $54.15 billion in revenue over the past 12 months, Tyson Foods is one of the most widely recognized consumer staples companies. Its influence over consumers gives it negotiating leverage with distributors, enabling it to pick and choose where it sells its products (a luxury many don't have). However, its scale is a double-edged sword because there are only so many big store chains to sell into, making it harder to find incremental growth. To expand meaningfully, Tyson Foods likely needs to tweak its prices, innovate with new products, or enter new markets. As you can see below, Tyson Foods's sales grew at a weak 1.1% compounded annual growth rate over the last three years, but to its credit, consumers bought more of its products. This quarter, Tyson Foods reported modest year-on-year revenue growth of 3.6% but beat Wall Street's estimates by 2.9%. Looking ahead, sell-side analysts expect revenue to remain flat over the next 12 months. This projection doesn't excite us and suggests its newer products will not accelerate its top-line performance yet. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Volume Growth Revenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is the lifeblood of a successful staples business as there's a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive. Tyson Foods's quarterly sales volumes have, on average, stayed about the same over the last two years. This stability is normal because the quantity demanded for consumer staples products typically doesn't see much volatility. In Tyson Foods's Q2 2025, year on year sales volumes were flat. This result was more or less in line with its historical levels. Key Takeaways from Tyson Foods's Q2 Results We enjoyed seeing Tyson Foods beat analysts' gross margin expectations this quarter. We were also happy its revenue and EPS outperformed Wall Street's estimates. Zooming out, we think this was a good quarter. The stock traded up 3% to $54.13 immediately following the results. Is Tyson Foods an attractive investment opportunity at the current price? If you're making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it's free.
ABC News
23-06-2025
- Science
- ABC News
Would you eat lab grown meat?
Lab grown meat has just been approved for consumption in Australia. What is it and how is it made?
