Beef revenues and volume increase for Tyson, but profits fall
Packer and leather group Tyson has reported revenues of $53.3 billion for its most recent business year, the 12 months ending September 28, 2024, an increase of 0.6% year on year.
Its beef business brought in almost $20.5 billion, which signifies growth of 4.4% compared to the figure for the previous year. Beef remained by far the biggest business segment for the group.
Tyson said the volume of beef it had produced also rose, increasing by 1.6%, but it said profits from its beef operations were down. The group achieved most of its $1.4 billion in operating income from chicken and prepared foods.
It said it expected beef production to reduce in 2025; the US Department of Agriculture has projected a reduction of 2% in domestic beef production next year.
