Tyson Foods, Inc. announced its first quarter fiscal 2009 results. Thus, the first quarter 2009 Net ESP was $0,30 million as compared to $0.10 million last year. Sales increased $45 million, or 0.7%, versus same quarter last year.
Pork and Prepared Foods operating margins were 6.3% and 4.7%, respectively. Beef operating results were breakeven in first quarter 2009, as compared to a $68 million loss a year ago. Chicken losses reflect increased grain costs of $183 million and increased net losses of $197 million from the company’s commodity risk management activities related to grain purchases, as compared to the same quarter last year.
Pork and Prepared Foods operating margins were 6.3% and 4.7%, respectively. Beef operating results were breakeven in first quarter 2009, as compared to a $68 million loss a year ago. Chicken losses reflect increased grain costs of $183 million and increased net losses of $197 million from the company’s commodity risk management activities related to grain purchases, as compared to the same quarter last year.
Source: Tyson Foods, Inc.