Tyson Foods Inc. has reported the results of its second quarter and first half of its fiscal year. Sales for Q2 were $10.888 billion, an increase of about $440 million compared to last year. Sales for te first six months of the fiscal year are $21.703 billion, up from $20.636 billion. Net income for the quarter was $367 million, down from $430 million from a year ago.
“During the quarter, we witnessed an unprecedented shift in demand from foodservice to retail, temporary plant closures, reduced team member attendance, and supply chain volatility as a result of the virus. Despite these challenges, we were able to adjust our product mix and redirect products to the appropriate channels,” said Noel White, Tyson Foods CEO. “While we cannot anticipate how long the challenges presented by COVID-19 will persist, we remain focused on driving long-term growth. Our solid balance sheet, ample liquidity, scale and diversity continue to give us confidence in our long-term outlook.”