Multinational food producer Tyson Foods Inc. saw its net income increase by 43% in the third quarter of the fiscal year 2021, the company reported in a statement.
Net income for the quarter grew to $753 million from $526 million the past year. Sales climbed to $12.478 billion from $10.022 billion, while diluted earnings per share grew to $2.05 from $1.44.
Growth was reported in the sales of all market segments, led by beef with $4.954 billion, chicken with $3.476 billion, prepared foods with $2.323 billion, pork with $1.715 billion, and international with $488 million.
The company acquired a 49% minority interest in a Malaysian feed and poultry product producer for $44 million in the third quarter of the fiscal year 2021.
Tyson is removing positions across several areas and job levels in corporate offices in Springdale, Arkansan, and Chicago, Illinois. TSN is up 7.77%.