Tyson Foods reported a third quarter profit as sales increased across nearly all segments.
The company posted a net income of $191 million for fiscal year 2024’s third quarter, reversing a $417 million loss from the previous year. Revenue rose to $13.3 billion from $13.1 billion.
The chicken segment saw adjusted operating income rise to $307 million, helped by a $305 million drop in feed costs due to lower grain prices.
However, Tyson projected a $300-400 million adjusted operating loss in beef, with cattle costs increasing by $240 million.
