Tyson Foods Reports Lower 4Q Earnings

Tyson Foods is reporting fiscal year fourth quarter earnings of $369 million, down from $537 million one year ago. Sales were up nine percent from a year earlier to a record $10.88 million. Beef sales are reported at $3.8 billion, down about one percent from last year. Tyson Foods CEO Noel White reported fiscal year sales are a record $42.4 billion. “Sales dollars grew six percent, driven mostly by chicken-related acquisitions and increased pricing in the beef and prepared food segments.”