Shares in Tyson Foods rose today (18 November) after the US meat giant booked a “record” year and said it was set for “strong growth” in the next fiscal period.
Tyson said its net earnings grew by more than a third in the year to 28 September, hitting US$778m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company said adjusted earnings per share from continuing operations were $2.26, up 15% on the year.
Operating income increased 6.9% to $1.38bn on the back of a 4% rise in sales to $34.4bn. Tyson said its sales were also a record.
“A year ago we outlined our expectations for growth. We said you should expect top line sales to grow around 3-4% annually. In fiscal 2013, we grew sales by 4%,” Tyson president and CEO Donnie Smith said. “This time last year, we projected earnings for fiscal 2013 would be roughly flat to the previous two years but would grow at a rate of at least 10% a year in 2014 and beyond.”
Shares in Tyson were up 3.13% at $29.67 at 10:02 ET today.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataClick here for the full statement from Tyson. Check back for further coverage of the results.
