Tyson Profits Plummet in Recent Fiscal Quarter

The biggest meat company in the US and second largest in the world saw a large drop in net income and net profit in its third fiscal quarter.


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Tyson foods, the nation’s largest meat company, saw its net income fall 61 percent, while net profit fell to $76 million (21 cents per share) in its third fiscal quarter from $196 million (51 cents per share) the previous year. The company cites a lack of consumer demand for pork and beef among the reasons for the drop. Beyond US borders, Tyson is the second largest meat producer in the world, and continues to endorse gestation-crate use, despite similar producers, including Smithfield and Hormel, pledging to end the use of the crates by 2017, and food giant Cargill already being 50 percent gestation crate-free.

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