Between plant closings, plant openings, recalls, and more, Tyson has been in its share of news in 2023. This story details the shutting down of facilities in Arkansas, Indiana, and Missouri as the company faces declining profits and reduced demand.
Tyson Foods is closing chicken processing plants in North Little Rock, Ark.; Corydon, Ind.; Dexter, Mo.; and Noel, Mo., in the first two quarters of next year. The move follows a March announcement that the company would be closing facilities in Arkansas and Virginia “to better use available capacity at other facilities.”
The reasons behind the latest closures can be traced back, in part, to the recent release of Tyson’s third-quarter report, which revealed sales down 3% from 2022, a GAAP operating loss of $350 million, and an adjusted operating income of $179 million, down 82% from the prior year.
In all, Tyson Foods reported a net loss of $417 million for its latest quarter, compared to $750 million in profit during the same period in 2022. Upon the release of Tyson’s troubles, the company stock price fell by about 8%.
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Tyson Foods Closing 4 More Plants
