Some Of Industry's Biggest Customers Turning Profits
The latest quarterly reports are out and they brought generally good news for the beef industry. Burger King beat expectations with 25¢/share earnings in the last quarter -- the improved results attributed to increased burger sales fueled by three new burger offerings.
Tyson also beat Wall Street expectations with numbers that almost doubled expected earnings -- 19¢/share vs. expectations of 11¢. Beef was a huge part of that, posting a $24-million profit, compared to a $188-million loss last year.
On a related note, with most of the packers showing drastically improved results, it just highlights Swift's continued woes from a profitability standpoint. Rampant rumors continue that a Swift sale is imminent.
-- Troy Marshall
The latest quarterly reports are out and they brought generally good news for the beef industry. Burger King beat expectations with 25¢/share earnings in the last quarter -- the improved results attributed to increased burger sales fueled by three new burger offerings.
Tyson also beat Wall Street expectations with numbers that almost doubled expected earnings -- 19¢/share vs. expectations of 11¢. Beef was a huge part of that, posting a $24-million profit, compared to a $188-million loss last year.
On a related note, with most of the packers showing drastically improved results, it just highlights Swift's continued woes from a profitability standpoint. Rampant rumors continue that a Swift sale is imminent.
-- Troy Marshall