Tyson Foods Inc. (NYSE: TSN) said Monday that its fiscal second-quarter earnings were flat at $159 million, or 42 cents a share, when compared to the year-ago period. Sales climbed 15.7% to $8 billion from $6.92 billion. Analysts, on average, expected the company to report earnings of 43 cents per share on revenue of $7.52 billion.
"Overall, it was a solid quarter, and I'm pleased with the results," said Donnie Smith, Tyson Foods' president and chief operating officer. "We produced record sales for the second quarter on substantially higher sales prices in addition to increased volume. All segments except Chicken were within or above their normalized operating margin ranges. While Chicken was well below its normalized range, it was profitable, and we believe it will continue to be profitable in the third and fourth quarters. Our Beef segment remains solid, and our Pork segment continues to produce outstanding returns. Prepared Foods is moving in the right direction, and we've got more work to do in this segment.
Full Dislcosure: None.
