Tyson posts record 2nd-quarter profit

Posted: May 5, 2014 at 7:07 a.m.

Springdale-based Tyson Foods Inc. on Monday reported second-quarter net income of $213 million, up 124 percent from the $95 million in earnings reported this time last year.

Adjusted earnings per share from operations attributable to Tyson came to 60 cents, up 58 percent from 38 cents in the second-quarter 2013, as sales rose to $9.03 billion, up 7.7 percent from $8.38 billion the year before.

"We had a record second quarter, which is a testament to our great team and our balanced multi-protein, multi-channel, multi-national business model," Tyson Foods President and CEO Donnie Smith said in a statement. "Our second quarter is usually our most challenging. We had a lot to overcome, including a harsher than normal winter, but I'm satisfied with the results.

"I'm still confident in my expectations for the year that we will achieve our goal of 6-8% sales growth in value-added products while generating at least $2.78 earnings per share," he added.

The full earnings report is available here.

Tyson executives will hold a conference call at 8 a.m. to discuss the results. Those interested may listen in live by calling (888) 455-8283. A telephone replay will be available until May 30 by calling (800) 879-6115, the company said. The webcast will also be available at http://ir.tyson.com.