Tyson Reports Hefty Q1 Loss
The largest meat producer in the US, Tyson Foods Inc., lost $112 million dollars for the first quarter, compared to a year-ago profit of $34 million.
The loss of 30 cents per share, or 10 cents per share, comes on revenue of $6.52 billion, compared to $6.48 billion a year ago for the period ending Dec. 27.
Tyson was weighed down by losses of $286 million from it's chicken operations, $183 million of which came from higher grain costs, it said. The company's pork sector made $55 million and it's prepared foods segment made $35 million. Tyson's beef sector broke even.
The loss of 30 cents per share, or 10 cents per share, comes on revenue of $6.52 billion, compared to $6.48 billion a year ago for the period ending Dec. 27.
Tyson was weighed down by losses of $286 million from it's chicken operations, $183 million of which came from higher grain costs, it said. The company's pork sector made $55 million and it's prepared foods segment made $35 million. Tyson's beef sector broke even.
