IBP Purchase Boosts Tyson Foods 4Q

Tyson Foods Inc. of Springdale on Nov. 12 reported higher fourth-quarter earnings, which were boosted by the chicken processor’s purchase this year of beef and pork processor IBP Inc.

Tyson, now the country’s largest meat company, said earnings for the fourth quarter were $47.5 million, or 22 cents a diluted share, compared with $18 million, or 8 cents a diluted share, for the same time last year.

The results for Tyson, which sealed its purchase of IBP on Aug. 3, include 50.1 percent of IBP’s results for the nine weeks ending Sept. 29, Tyson said.

Tyson said fourth-quarter sales were more than $5 billion compared with $1.84 billion last year, an increase of 175.9 percent with a 121.8 percent increase in volume.

Tyson said it expects diluted earnings per share for the first quarter to be between 22 cents and 27 cents.

Shares of Tyson were trading at $11.65 on Nov. 20.