Business Tyson Foods had a record year
For fiscal 2015, Tyson Foods earned $1,220 mill., equal to $3.06 per share on the common stock, and an increase when compared with the previous year when the company earned $864 mill., or $2.48 per share. Sales for the year totaled $41,373 mill., compared with sales of $37,580 mill. during fiscal 2014.
Tyson’s chicken business had a strong year, generating $1.3 bn. in operating income, according to the company. Breaking down Tyson’s chicken business, Donnie Smith, president and chief executive officer of Tyson Foods, said 52% of sales are in retail, 17% are in value-added food service sales, 16% are to food service national accounts, and 15% are such commodity products as leg quarters.
Operating income for Tyson’s newly revamped prepared foods business was $636 mill. and volume was up 78% compared to the previous year. During the year, the company’s pork business unit generated an operating income of $373 mill., and the beef business recorded an operating loss of $53 mill.
During fiscal 2016, Mr. Smith said Tyson Foods will be extending the Jimmy Dean brand into the bacon category and positioning the product as a premium option.
For the fourth quarter, Tyson’s net income was $258 mill., or 65c per share, and an increase compared with the previous year when net income totaled $137 mill., or 37c per share. Sales for the quarter were $10,506 mill. compared with sales of $10,105 mill. the previous year.