Tyson Foods Inc. said Monday that net income increased more than 41 percent because of strong performance across all business segments.
Reporting before the stock markets opened, the Springdale-based food production company posted earnings of $484 million, or $1.25 per share, for the quarter that ended July 2, up from $343 million, or 83 cents per share, in the same period a year ago.
The full news release accompanying the earnings report can be found here.
In a conference call Monday morning, CEO Donnie Smith said third-quarter earnings per share set a record high, up 51 percent. Earnings beat the average estimate of $1.06 per share from nine analysts surveyed by Thomson Reuters.
Revenue fell 6.6 percent to $9.4 billion.
Beef sales fell 12 percent to $3.78 billion, while volume increased 2.9... [ MORE ]