Tyson Foods reported a strong first quarter for 2014 fiscal year, with earnings jumping to 72 cents per share, a 47 percent increase from the 49 cents per share recorded during the first quarter of 2013. Tyson Foods on January 31 announced its results for the quarter ending December 28, 2013.
Other financial highlights for the Tyson Foods 2014 first quarter include:
- Sales reached $8.8 billion, an increase of 4.7 percent over first quarter of 2013
- Operating income increased 36 percent to $412 million.
- The company's overall operating margin was 4.7 percent, with a record chicken segment operating income of $225 million and a pork segment operating income of $121 million.
- Tyson Foods repurchased 4.6 million shares for $150 million.
- Liquidity totaled $1.8 billion at December 28, 2013.
"I'm very pleased with our strong first quarter results, and I'm confident in my expectations for the full year," said Donnie Smith, president and CEO of Tyson Foods. "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.
"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."