HUTCHINSON, Kan. — Tyson Foods released its first quarter numbers on Monday. The meat and poultry giant reported total sales of $12.9 billion compared with $10.4 billion in 2021. Net income for the quarter was $1.1 billion compared with $472 million in 2021.
In the prepared foods division, sales totaled $2.3 billion. Sales volume decreased due to the divestiture of Tyson's pet treats business in the fourth quarter of fiscal 2021 as well as lower production primarily associated with a challenging labor and supply environment.
Average sales price in prepared foods increased primarily due to the effects of revenue management in an inflationary-cost environment. Operating income decreased due to the impacts of inflationary market conditions, including $215 million of increased raw materials and other input costs, increased supply chain costs and a challenging labor environment, partially offset by favorable pricing, according to a release from Tyson.
Tyson operates two prepared foods processing plants in Hutchinson and South Hutchinson employing about 475 workers.
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