Tyson Foods reported quarterly earnings of $ 1.36 billion, or $ 3.71 a share, up from $ 654 million, or $ 1.79 a share, a year ago.
Adjusted earnings per share of $ 2.30 are higher than estimates for $ 2.22.
Sales rose to $ 12.81 billion from $ 11.46 billion last year and were higher than estimated at $ 12.66 billion.
“To drive continuous improvement and faster decision-making, we are launching a new productivity program designed to offer annual savings of over $ 1 billion by the end of 2024,” said CEO Donnie King.
For the year 2022, the savings are expected to reach $ 300-400 million.
Tyson has raised the dividend to 46 cents per share on its A shares and to 41.4 cents on its Class B shares.
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Source From: Capital
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