Tyson Foods expects another year of record profit following better-than-expected revenue in its latest quarter. The Wall Street Journal says the earnings report shows strength in chicken and pork operations. Tyson Foods said the chicken segment registered a sales volume climb on stronger demand. Tyson, the largest U.S. meatpacker by sales, projected healthy earnings in its chicken and pork operations despite rising supplies of the meats and continued fallout from high pathogenic avian influenza. The company also raised its anticipated cost savings from last year’s acquisition of Hillshire Brands, which gave Tyson a much bigger footprint in packaged foods. The report comes with a positive outlook despite weakness in the company’s beef operation and sluggish export markets. Tyson executives said their projections for its fiscal year that began in October assumed that prices for chicken would stay low, that trade barriers related to bird flu would remain in place, and that the U.S. dollar would remain strong.
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