Tyson Foods, the world’s largest meat company, saw sales rise in its fiscal fourth quarter, as the company had gains from its beef and pork segments but continued to struggle with its poultry business.
The US company said it earned $48 mln, or 13 cents per share, in the 3 months ending 27 September, compared with $32 mln, or 9 cents per share, a year earlier.
Analysts surveyed by Thomson Reuters, on average, expected a profit of 18 cents per share on revenue of $6.98 bln. Tyson sales rose $627 mln to $7.20 bln.
The company said high grain costs dragged down the chicken segment, increasing $230 mln in the quarter. The pork segment had its best-ever fourth-quarter operating margin of 7.5%.
Source: Associated Press