Tyson Foods Inc. has released its first-quarter results. Its sales for the first quarter of FY 2020 are $10.815 billion, an increase of 6 percent from 2019’s total of $10.193 billion. Operating income increased from $807 million to $826 million, and net income increased from $552 million to $561 million.
“Our overall results in the first quarter of fiscal 2020 were in line with expectations,” said Noel White, Tyson Foods’ CEO. “Our Beef and Pork segments performed well as the effects of African swine fever are beginning to materialize. Our Chicken segment performed better operationally, although in a soft pricing environment. Our Prepared Foods segment produced its sixth consecutive quarter of retail consumption growth, demonstrating the strength of our brands and innovation as we grew or held market share in all core categories.