(AOF) – If its stock gains 0.89% to $47.35, Tyson Foods’ accounts in the fourth quarter of 2023 have deteriorated. Over this period, its operating loss was $463 million, compared to an operating profit of $766 million a year earlier. For this quarter, adjusted operating profit fell 71% to $236 million. The agri-food group posted a loss per share of $1.31 compared to earnings per share of $1.5. On an adjusted basis, Tyson Foods posted earnings per share of 37 cents.
In addition, its sales amounted to 13.34 billion dollars, down 2.8% compared to 13.73 billion euros a year ago in the same period.
Sales volumes for its “beef” business fell by 6.7% during this quarter, while prices increased by 10.2%.
On the outlook side, Tyson Foods forecasts adjusted operating profit of $1 to $1.5 billion for fiscal year 2024, an increase compared to that posted for fiscal year 2023: $933 million. The group expects sales to be relatively stable at $52.88 billion.
The USDA (the United States Department of Agriculture) projects that domestic beef production will decrease by approximately 5% in fiscal year 2024 compared to fiscal year 2023. For this activity, Tyson Foods forecasts then an adjusted operating loss which will be between $400 million and the break-even point for 2024.
The USDA forecasts that national pork production will increase by approximately 2% for 2024 compared to 2023. The American agrifood group expects adjusted operating profit for this division to reach approximately the break-even point during the year. financial year 2024.
Tyson Foods also expects adjusted operating profit of $400 million to $700 million for 2024 for its chicken business.
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