Skip to main content

The Globe and Mail

Tyson Foods profit hit by higher grain, feed costs

In this May 3, 2009 file photo, Tyson Foods chicken products are displayed on the shelves of a Little Rock, Ark. grocery store.

Danny Johnston/Danny Johnston/AP

Tyson Foods Inc. , the largest U.S. meat processor, reported a lower-than-expected quarterly profit on higher grain and feed costs and said it expected them to keep rising this fiscal year.

However, sales came in stronger than Wall Street had expected because of higher prices, and Tyson gave a fiscal-year revenue forecast mostly in line with analysts' estimates.

For the fourth quarter ended Oct. 1, net income attributable to Tyson fell to $97-million, or 26 cents a share, from $213-million, or 57 cents a share, a year earlier.

Story continues below advertisement

Analysts on average were expecting a profit of 32 cents a share, according to Thomson Reuters I/B/E/S.

Sales rose 13 per cent to $8.40-billion, beating analysts' expectations of $8.20-billion.

The company's operating margin fell to 2 per cent from 5.3 per cent.

Tyson expects fiscal 2012 sales of more than $34-billion, compared with analysts' estimates of $34.01-billion.

Report an error
Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at