Beef holds up well for Tyson
08/02/2019
Its net income for the three-month period fell more sharply, reaching $552 million, which is 66% down on the figure for the first quarter of Tyson’s last business year.
The company earned more than $3.9 billion from sales of beef during the quarter, an increase of almost 2% year on year, although the volume of beef it sold was down by almost 1% owing to a reduction in live cattle processed. It expects cattle supply to increase by 2% this year.
In contrast, Tyson sold 17% more chicken during this period but achieved revenues for this segment of its business of $3.1 billion, a decline of 13.1%.
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