US: Tyson Foods posts Q1 earnings jump
Tyson's posts positive Q4 results.
Shares in Tyson Foods jumped today (31 January) after the US meat giant posted a 47% earnings increase for the first quarter of its financial year.
For the period ended 28 December, Tyson reported income of US$254m, up $173m a year ago.Operating income increased 36% to $412m. Sales were up 4.7% to $8.76 billion.
"I'm very pleased with our strong first quarter results, and I'm confident in my expectations for the full year," said president and CEO Donnie Smith. "We're growing sales and earnings and executing our strategy - including making our third prepared foods acquisition in less than a year - while reinvesting in our existing businesses and buying back shares.
Sales over fiscal 2013/2014 are expected to reach around $36bn.
"We're in a position any company wants to be in, which is being able to make deliberate, long-term decisions to create shareholder value," Smith said. "But we're maintaining our sense of urgency, our flexibility and our opportunistic mindset. We're generating momentum that will take us into 2015, 2016 and beyond," added Smith.
Shares in Tyson were up 7.77% at $37.17 at 11:31 ET.
For the full results click here.
Tyson Foods, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offeri...
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
Synopsis Canadean's "Tyson Foods, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile co...
The report presents detailed data on consumption trends in the Ambient Meat category in United States, analyzing consumption volumes and values. It also provides indispensable data on distribution cha...
- On the move: What's in store from Tesco's new CEO?
- The just-food interview: Premier Foods CEO Darby
- On the money: Can Premier build H2 sales momentum?
- Focus: Lindt plays safe with Russell Stover buy
- Interview: Bell hits out at German cartel ruling
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Premier launches Oxo pots range in UK
- Universal Robina to buy biscuit firm Griffin's