Tyson Foods, Inc.

Good morning and welcome to the Tyson Foods third quarter 2020 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to John Cottle, Vice President of Investor Relations. Please go ahead.

Good morning and welcome to the Tyson Foods Incorporated Earnings Conference call for the third quarter of fiscal 2020. On today's call are Noel White, Chief Executive Officer, Dean Banks, President, and Stuart Glendening, our Chief Financial Officer. Slides accompanying today's prepared remarks are available as a supplemental report in the Resource Center of the Tyson Investor website at ir.tyson.com. Tyson Foods issued an earnings release this morning, which has been furnished to the SEC on Form 8-K and is available on our website at ir.tyson.com. Our remarks today include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements reflect current views with respect to future events, such as Tyson's outlook for future performance on sales, margin, earnings growth, and various other aspects of its business. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. I encourage you to read the release issued earlier this morning and our filings with the SEC for a discussion of the risks that can affect our business, including those listed in our 10-Q file this morning and during this fiscal year, as well as our most recent annual report on Form 10-K and our current report on Form 8-K, filed March 13, 2020. I would like to remind everyone that this call is being recorded on Monday, August 3, at 9 a.m. Eastern Time. A replay of today's call will be available on our 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. Please note that our references to earnings per share, operating income, and operating margin in today's remarks are on an adjusted basis unless otherwise noted. For reconciliations to our GAAP results, please refer to this morning's press release. I'll now turn the call over to Noel White.

Thanks, John, and good morning, everyone. Before we get to the quarter, I'd like to take a moment to discuss the announcement we made earlier this morning. Later this year, Dean Banks will take over president and chief executive officer of Tyson Foods, effective October 3rd. I'm excited to continue at Tyson in the new role as executive vice chairman of the board of directors. Tyson's future is bright with Demon at the helm. As our chairman said in the press release this morning, Dean and the entire executive leadership team have a strong breadth and depth of capabilities, and they bring energy and vision to Tyson Foods. Dean has an impressive background in entrepreneurship, technology, and the healthcare industry, which makes him ideally suited to lead Tyson in our efforts to integrate advanced technologies into our operations and further our focus on team member health and safety. Dean is the right person to lead our company in the next stage of growth. Dean, would you like to say a few words?