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Tyson Foods boosts outlook

Friday, February 05, 2016 - 00:36

Tyson Foods reports better-than-expected profit and raises full-year forecast as costs fall. Fred Katayama reports.

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Jimmy Dean sausages and Hillshire Farm cold cuts just weren't as appetizing for many of Tyson Foods' consumers in the first quarter. The company's sales fell across all product segments - beef, pork, chicken, and prepared foods. But the biggest U.S. meat processor still managed to report a better-than-expected rise in quarterly profit and hike its full-year forecast. Producing that profit was a sharp drop in feed and livestock costs. The company's revenue fell. A huge supply of cattle and hogs in the domestic market drove down average sales prices. Tyson's shares rose to a record high.

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Tyson Foods boosts outlook

Friday, February 05, 2016 - 00:36