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Tyson posts mixed 3Q gains; price-fixing inquiry disclosed | Arkansas Online

Tyson Foods Inc. posted third quarter earnings Monday that rose from last year’s results, but not as high as executives wanted.

Tyson’s beef and prepared foods businesses bolstered earnings, while chicken and pork lagged behind for the quarter.

The nation’s largest meatpacker reported a net income of $676 million, or $1.84 per share, in the three months ending June 30. That is 25% more than last year’s net income of $541 million, or $1.47 per share.

“Our strategy remains focused on growing prepared foods, international and value-added chicken while reducing the volatility of earnings across our business — and we’re making progress,” Noel White, Tyson’s president and chief executive officer, said in a conference call Monday.

Tyson also told shareholders it had received a subpoena during the quarter from the U.S. Department of Justice seeking information related to a price-fixing investigation.

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Tyson posts mixed 3Q gains; price-fixing inquiry disclosed.

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