One of the area’s largest employers says the drought — one of the worst in decades — could lead to higher costs for consumers and also affect its future earnings.
Tyson Foods on Monday reported third-quarter income of $76 million, or 21 cents per share, on $8.3 billion in sales. That compares with income of $196 million, or 51 cents per share, on sales of $8.25 billion for the same period a year earlier.
Donnie Smith, president and chief executive officer, said in a statement that he was pleased with the chicken and prepared-food segments during the quarter, but he added that “difficult market conditions” hurt the beef and pork segments.
Poultry sales for Tyson in the third quarter of its fiscal year were $2.9 billion, up 4 percent from the figure for the previous year, the company reported. Operating income from the poultry business rose to $153 million in the quarter.
Tyson has poultry plants in Noel and Monett in Missouri, and in Rogers, Springdale and Fayetteville in Arkansas. The Noel plant employs 1,500 people, while the Monett plant employs more than 700, according to spokesman Gary Mickelson. The two plants also employ more than 225 growers throughout the region.
Between its three plants and its corporate and other operations in Northwest Arkansas, Tyson employs 8,000 in Benton and Washington counties.
Income for the first nine months of the fiscal year came to $398 million, or $1.07 per share, on sales of $24.9 billion, the company reported Monday. That compares with earnings of $653 million, or $1.71 per share, on sales of nearly $23.9 billion for the comparable period a year earlier.
“Grain costs have been increasing significantly and rapidly, largely as a result of the ongoing U.S. drought,” Smith said in his statement. “While we ultimately expect to pass along rising input costs, these costs, coupled with continued soft demand, are likely to pressure earnings in 2013.
“We’re often faced with challenges in our business, but our strategy will allow us to manage through trying times for continued success. We are focused on growing our prepared foods, international poultry and value-added poultry businesses.
“It’s tough right now, but I am confident we will come out of this in even better shape than we are in today.”
Local News
Tyson reports third-quarter earnings drop
Drought could further affect meat company
- Local News
-
-
Old McDonald County Courthouse to hold grand opening celebration this weekend
As Jean Stratton-Bird made her way into the war memorial room at the Old McDonald County Courthouse on Thursday, she came face to face with the memories of her brother Eldon E. Stratton, who was lost in battle in 1943 during War World II. “He is finally home,” Stratton-Bird said.
-
Murder warrant issued in fatal domestic shooting
Police believe Doyle Handle shot himself after fatally shooting Dena Davenport during a domestic disturbance Thursday night at their residence in Grove. Officers responded to a 6:55 p.m. report of a shooting at the couple’s home on Wood Street on the southwest side of Grove and found Handle, 52, in the front yard with a gunshot wound to his jaw.
-
Local lawmakers review session accomplishments
Joplin area lawmakers cited accomplishments and disappointments in the just-concluded Missouri legislative session during a brunch Friday sponsored by the Neosho Chamber of Commerce. Measures benefiting veterans issues were addressed in the session that ended a week ago, along with work force and labor issues, lawmakers said.
-
Diamond High School band prepares for Liberty Bowl
Classes were winding down last week at Diamond High School, but not for members of the marching band. Instead, they dug out some new music and began their first rehearsals in preparation for their next major appearance — the AutoZone Liberty Bowl, which is scheduled for Dec. 31 in Memphis, Tenn.
-
Joplin photo rescue effort gears up to help Moore storm victims
A photo rescue operation based in Carthage that helped salvage and return thousands of pictures after the 2011 tornado in Joplin is reaching out to storm victims in Moore, Okla.
-
Stream sampling in Jasper County finds elevated levels of E. coli
Stream sampling conducted just before the Memorial Day weekend by the Jasper County Health Department found elevated levels of E. coli in every stream and river tested. Twenty-one sites were tested on May 22, following heavy rains earlier in the week.
-
Missouri Prairie Foundation plans BioBlitz for June 1-2 at prairies in Barton, Vernon counties
The Missouri Prairie Foundation’s Denison and Lattner prairies in Vernon and Barton counties will be the focus on Saturday and Sunday, June 1 and 2, of the fourth annual Prairie BioBlitz.
-
Families, friends invited to honor veterans with flags this weekend
Small lengths of plastic pipe have been installed behind the headstones of veterans graves in Joplin cemeteries so that every veteran will have a flag on Memorial Day.
-
Mike Pound: Writing column like making pasta
It’s Friday afternoon as I’m typing this and my wife is worried. She’s not worried about what I’m typing; she gave up worrying about that a long time ago. Besides, my wife knows that even though I’m typing right now, I likely don’t have a clue what I’m writing.
-
Events, activities to honor veterans planned in Joplin area on Monday
No Memorial Day ceremonies are planned at Joplin cemeteries this year or at Mount Hope Cemetery in Webb City, but a number of other events are scheduled in cities around the region.
- More Local News Headlines
-
Old McDonald County Courthouse to hold grand opening celebration this weekend
