Coming off a strong third quarter, Tyson Foods Inc. is reporting record numbers across the board.
“We again demonstrated our ability to deliver higher, more stable earnings through our differentiated business model that emphasizes growth in prepared foods and value-added chicken,” Donnie Smith, CEO of Tyson Foods, said, according to the company’s most recent financial report. “We produced record third quarter earnings per share, operating income, and return on sales. All operating segment results were in or above their normalized operating margin ranges, with the Chicken segment delivering a record 13.9% return on sales.”
At retail, Smith noted growth in sales volume and dollars, as well as category share. Highlights for the quarter included:
Tyson also repurchased 6.6 million shares for $425 million, excluding shares repurchased to offset dilution from its equity compensation plan, as well as a record third quarter total company operating margin of 8.2%.
“We’re continuing our share repurchases and have bought back an additional $380 million worth of shares to date in the fiscal fourth quarter,” Smith continued. “We expect our high-level performance to continue and are raising full year fiscal 2016 earnings guidance.”
The company concluded that it intends to continue its strong momentum, looking to generate more growth in fiscal 2017.
Deli Market News will follow Tyson’s growth, as well as others in the industry, so stay tuned.