Tyson Foods Inc. Posts Profit
Tyson Foods Inc. of Springdale posted a profit of $160 million for its first fiscal quarter, or 42 cents per share, compared to a loss of $102 million, or 27 cents per share, during the same quarter last year.
According to Thomson Reuters, analyst expectations were about 18 cents per share.
The company reported that all its operating segments were profitable. Operating income for chicken was $78 million, or about 3.2 percent of sales; for beef it was $119 million, or 4.4 percent of sales; pork was $62 million or 7.6 percent of sales; and the prepared foods division was $55 million, or 7.7 percent of sales.
Quarterly revenue rose to $6.64 billion from $6.52 billion. Meanwhile, the company cut $400 million from its total debt, which now stands at $1.9 billion.