Tyson reports 1st Q losses
Tyson Foods Inc. lost $112 million dollars for the first quarter. The Springdale-based company announced a loss of 30 cents per share, compared to a year-ago profit of $34 million, or 10 cents per share.
The results come on revenue of $6.52 billion, compared to $6.48 billion a year ago.
Analysts polled by Thomson Reuters had forecast a first-quarter loss of 23 cents a share on revenue of $6.82 billion.
Tyson has seen record input costs and is now facing decreased demand as consumers watch their spending. Tyson CEO Richard Bond resigned earlier this month and was replaced on an interim basis by former CEO Leland Tollett.
Arkansas-based Tyson operates poultry processing plants in Albertville and Blountsville.