Tyson EPS Higher Than Original Projection

John Tyson, chairman, president and CEO of poultry giant Tyson Foods Inc., said the Springdale company would see much higher fourth-quarter earnings per share than originally expected.

Tyson Foods had expected a range of 8 to 12 cents EPS, but on Sept. 26 the company announced that figure would be between 18 and 22 cents EPS.

“Earnings in the fourth quarter have been positively impacted by seasonal improvement in chicken breast pricing and unusually strong leg quarter pricing,” John Tyson said. “In addition, we have executed our game plan to achieve a better balance in our internal supply and demand.”

The anticipated results do not include the acquisition of meatpacking giant IBP Inc., which should be completed later this week.

Tyson owns 50.1 percent of IBP.

“IBP’s business is also performing better than we had expected,” John Tyson said.

Tyson shares had fallen to as low as $8.10 on Sept. 21, but were up to $9.71 per share Sept. 26.