Tyson Foods Inc. reported the following results for its third quarter. Sales for the quarter were $9.4 billion, down from last year’s $10.07 billion. However, operating income increased from $563 million to $767 million, and net income increased from $344 million to $485 million. To date, Tyson’s sales for the first nine months of the fiscal year are $27.725 billion, down from its results of $30.867 from a year ago. Operating income for the first three quarters has increased from $1.619 billion to $2.247 billion, and net income has increased from $965 million to $1.38 billion.
“We again demonstrated our ability to deliver higher, more stable earnings through our differentiated business model that emphasizes growth in prepared foods and value-added chicken,” Donnie Smith, chief executive officer of Tyson Foods, said. “We produced record third quarter earnings per share, operating income and return on sales. All operating segment results were in or above their normalized operating margin ranges, with the Chicken segment delivering a record 13.9% return on sales.