Tyson Foods Inc. reported third quarter sales of $9.85 billion, an increase from last year’s results of $9.403 billion. Operating income dropped to $697 million, while net income decreased to $448 million. For the first nine months of the fiscal year, Tyson’s sales of $28.1 billion are outpacing last year’s $27.7 billion, and its net income of $1.383 billion is slightly ahead of 2016’s $1.377 billion.
“Our team delivered solid results in our third quarter with three of four segments on a GAAP basis and all four segments on an adjusted basis achieving operating margins in or above their normalized ranges. Our total net sales grew 4.8% compared to third quarter of 2016, and every segment delivered volume growth behind a strong start to grilling season and new product innovation,” said Tom Hayes, president and chief executive officer of Tyson Foods.