Tyson Foods, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 30, 2013. For the quarter, the company reported sales of $8,419 million compared to $8,268 million a year ago. Operating income was $174 million compared to $302 million a year ago. Net income attributable to the company was $95 million or $0.26 per diluted share compared to $166 million or $0.44 per diluted share a year ago. Adjusted net income per share attributable to the company was $0.36 compared to $0.44 a year ago. EBITDA was $738 million compared to $818 million a year ago. Capital expenditures were $133 million. For the six months period, the company reported sales of $16,821 million compared to $16,597 million a year ago. Operating income was $474 million compared to $580 million a year ago. Net income attributable to the company was $268 million or $0.74 per diluted share compared to $322 million or $0.86 per diluted share a year ago. Adjusted net income per share attributable to the company was $0.84 compared to $0.86 a year ago. Income before income taxes was $159 million compared to $257 million a year ago. Cash provided by operating activities was $230 million compared to $454 million a year ago. Purchases of marketable securities were $79 million compared to $25 million a year ago. EBITDA was $1,731 million compared to $1,651 million a year ago. Capital expenditures were $290 million as it continues to invest in projects for both domestic and foreign operations that will not only result in improved productive capabilities, labor efficiencies, yields and sales mix but also increase its ability to innovate and produce new products to its customers. For the year 2013, the company expects sales to approximate $34.5 billion mostly resulting from price increases related to expected decreases in domestic availability of certain protein and increased raw material costs. Capital expenditures expect to be $550 million to $600 million. The company expects fiscal 2013 net interest expense will approximate $140 million. Income before income taxes was $423 million compared to $500 million a year ago. The effective tax rate should be around 35.5% to 36%. The company still expects to achieve $100 million in operating efficiencies for the year.

The Board of Directors of Tyson Foods, Inc. at a meeting on May 2, 2013, declared the quarterly dividend of $0.05 per share on Class A common stock and $0.045 per share on Class B common stock, payable on September 13, 2013, to shareholders of record at the close of business on August 30, 2013.

Tyson Foods, Inc. Presents at BMO Capital Markets 2013 Farm to Market Conference, May-14-2013 08:00 AM. Venue: Grand Hyatt Hotel, New York, New York, United States. Speakers: Donnie Smith, Chief Executive Officer and President, Noel White, Senior Group Vice President of Tyson Fresh Meats.