Global Meat Giant Tyson Foods ‘Unsatisfied’ With Sales Results

By

1 Minutes Read

The company is 'unsatisfied' with its results (Photo: Quinn Dombrowski) - Media Credit:

Global meat giant Tyson is ‘unsatisfied’ with its quarterly results, according to reports.

Executives from the company warned that ongoing trade disputes were threatening the company’s pork and chicken businesses, with countries including China importing less pork as a result of tariffs on American shipments.

The reduced imports have led to the US stockpiling its oversupply, as reducing domestic prices for pork and beef, leading to less demand for chicken.

Disappointed

Tyson’s operating income in the third quarter for chicken business dropped from $294 million a year earlier to $189 million. Pork dropped from $136 million to $67 million.

Tom Hayes, CEO of Tyson – the biggest meat processor in the States – said: “We are clearly not satisfied with our results, particularly in chicken. Our challenge really comes down to pork and chicken.”

Speaking during a conference call with analysts, Chief Financial Officer Stewart Glendinning added that the issues could continue, saying: “Tariffs and trade concerns could continue to impact product pricing.”

Support Plant Based News in our mission to plant 1 million trees by 2030. 🌳

Your donation supports our mission to bring you vital, up-to-the-minute plant-based news and research and contributes to our goal of planting 1 million trees by 2030. Every contribution combats deforestation and promotes a sustainable future. Together, we can make a difference – for our planet, health, and future generations.

© 2023 Plant Based News is a UK-based digital media outlet publishing content about veganism and plant-based living, including news and current events, health, personal transformation stories, features, and recipes. | Plant Based News Ltd, PO Box 71173, London, SE20 9DQ, United Kingdom.

buttons/scroll-to-top/scroll-to-top-small-active