Quarterly Profits Rise at Tyson Foods
by August 3, 2015 7:09 am 92 views
Tyson Foods Inc. reported Monday that net income attributable to the company rose to $343 million, or 83 cents per share, in the quarter that ended June 27. That’s up from $260 million, or 73 cents per share, a year earlier.
Helped by higher sales of chicken and prepared foods, 3Q sales increased 4 percent to approximately $10.1 billion.
“The strong results in these two segments demonstrate the benefits of our branded, value-added product portfolio and multi-channel, multi-protein business model by partially offsetting soft results in the Beef and Pork segments,” Tyson Foods CEO Donnie Smith said in a press release.
Smith did warn, however, that the company may not be able to achieve its profit forecast for the year ending September due to export disruptions in its beef business and high cattle costs.