Tyson profits surprise analysts
Tyson Foods reported a bigger-than-expected profit for its third fiscal quarter in contrast to a loss a year ago.
Sales and operating income improved from the previous quarter and from a year ago in all four segments – chicken, beef, pork and prepared foods. Together, they compensated for higher feed prices.
Earnings
The company said that it earned US $111 million, for the three months ended June 30 versus a loss of $52 million, a year earlier. Sales rose to $6.96 billion from $6.38 billion a year earlier.
“This was another good quarter for us, and all the credit goes to Tyson team members,” CEO Richard Bond said. “They’re focused intently on executing our business plans and cost management initiative, and our earnings reflect their work.”
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