Insurance Proceeds from Wisconsin Flood Help Arkansas-Based Tyson

February 8, 2010

Insurance proceeds from flood damage at Arkansas’ Tyson Foods plant in Jefferson, Wis., helped boost the company’s bottom line in the fiscal first quarter.

The meat producer, based in Springdale, Ark., said it received $8 million in insurance money in the first quarter related to severe flooding that temporarily closed the Jefferson plant in the summer of 2008.

Tyson Foods returned to a profit in the first quarter as its beef, pork and chicken units all made money.

The meat producer’s chicken unit continued its turnaround. The quarterly profit was its third straight.

The company earned $160 million, or 42 cents per share, in the quarter ending Jan. 2. In the same period last year the company lost $102 million, or 27 cents per share.

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