Tyson Foods net income up strongly in third quarter
Company reports record operating margin for its chicken segment
Tyson Foods reported a strong third quarter for fiscal year 2016, seeing a strong improvement in its net income achieving a record operating margin for its chicken segment.
The company saw its net income rise from $344 million during the third quarter of fiscal year 2015 to $485 million during the most recent quarter.
The operating margin for Tyson’s chicken segment was 13.9 percent, a record for the company, Meanwhile, the company’s prepared foods segment hit an operating margin of 10.9 percent and its pork segment had an operating margin of 9.6 percent.
Tyson Foods achieved sales of $9.4 billion, which is a drop from the sales recorded during the same period of 2015. However, it did improve its pork sales, while prepared foods sales were down only slightly.
“We again demonstrated our ability to deliver higher, more stable earnings through our differentiated business model that emphasizes growth in prepared foods and value-added chicken,”
“At retail, our products are growing in sales volume, sales dollars and category share according to IRI, and Tyson is a leader in volume sales growth among the top 10 branded food companies.”