(AOF) – In the third quarter of 2023, Tyson Foods posted an operating loss of $ 350 million against an operating profit a year ago in the same period. In this quarter, it posted a loss per share of $1.18 against earnings per share of $2.07. Over the first 9 months of activity of the year 2023, the American agri-food company saw its operating profit drop from 3.64 billion dollars to 68 million dollars in one year. In this quarter, its revenues decreased from 13.49 to 13.14 billion dollars in one year.
On the outlook side, Tyson Foods expects between 53 and 54 billion dollars in sales for the 2023 financial year.
AOF – LEARN MORE
Find out more about the Agrifood sector
Soaring energy prices and a call for help
In the past, energy represented a fixed cost of 3% of turnover. This year, this percentage rises to 5% or even 7% for VSEs-SMEs, according to Ania (National Association of Food Industries). Professionals are very worried because until the end of 2022 they generally benefit from coverage to cushion these increases. However, they have not been renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercereals, Inaporc, Semae, etc.) are calling on the State for help in the face of the erosion of their margins and their capacity to investment.
The State has proposed several devices, including an “electricity damper”, which are deemed insufficient. The organizations also deplore the failure of European negotiations to achieve a tariff shield to avoid distortions of competition. Agriculture and agri-food require a maximum ceiling price of €180/MWh, while many companies buy at prices above €500/MWh on the French market.