Operating income for Tyson's chicken segment was down for the second quarter of 2011 when compared to 2010, but up for the first six months of 2011.
Tyson Foods Inc. reported a net income of $159 million for the second quarter of 2011 and $457 million for the first six months, holding steady for the quarter and gaining $138 million for the year so far compared to 2010 numbers.
Chicken operating income was down for the second quarter compared to 2010 ($37 million compared to $114 million) but up for the first six months ($218 million compared to $192 million). Pork showed the greatest growth over 2010, with an operating income of $146 million for the second quarter of 2011 (compared to $69 million for 2010) and $323 million for the first six months (compared to $131 million).
Sales were up for both chicken and pork over 2010 numbers. "Overall, it was a solid quarter and I'm pleased with the results," said Donnie Smith, Tyson Foods' president and CEO. "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."
In spite of high feed prices, Tyson said it expects its chicken segment to remain profitable for the rest of 2011. "A significant portion of our increased capital expenditures focus on production and labor efficiencies, yield improvements and sales mix flexibility," said Smith. "These improvements, which began in late fiscal 2010 and are scheduled to continue throughout fiscal 2011, are expected to result in $200 million of operational improvements in fiscal 2011."
The company's pork segment is expected to remain above margins, but will not be as profitable in the second half of 2011 as it was in the first half. "We expect hog supplies in fiscal 2011 to be comparable to fiscal 2010 and to be adequate in the regions in which we operate," said Smith. "We expect pork exports to remain strong in fiscal 2011."
USDA National Institute of Food and Agriculture offers 1.46 million grant to Ohio State University
Third International Poultry Meat Congress draws strong interest on opening day
Pericoli offers the PERIcool evaporation pad designed with high grade Swedish
craft paper and proprietary non-toxic resin used in the impregnation process.
Grilled chicken breast product supplied to Subway restaurants in five states after pieces of plastic were reportedly found in product
Poultry company withdraws land-use request filed in Sussex County, Delaware
Rose Acre Farms, Hidden Villa Ranch intend to develop cage-free layer operation on island of Oahu
Transaction intended to speed up development of pig farm industry by introducing advanced breeding techniques
New position focuses on developing and implementing company's strategy to enhance work environment
New trade advisor position created with hopes of helping Ontario’s agri-food sector gain more access to China
BRF reaches agreement with Singapore Food Industries that forms SATS BRF Food
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.