Tyson profit up 46.5% for first quarter

Posted: January 31, 2014 at 7:11 a.m.

Tyson Foods Inc. reported Friday first-quarter net income up 46.5 percent over the same quarter 2013.

The Springdale-based meat-processing giant posted a profit of $252 million, or 72 cents per share, up from $173 million, or 49 cents per share, in the previous first quarter.

"I'm very pleased with our strong first quarter results, and I'm confident in my expectations for the full year," President and CEO Donnie Smith said in a statement. "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."

Tyson executives will hold a conference call and its annual shareholders meeting Friday. The earnings call is set for 8 a.m. and may be accessed by dialing (888) 455-8283 and using the pass code Tyson Foods, or by visiting the company's website at http://ir.tyson.com.