Tyson Foods reported a $10 million increase in net income for the second quarter, but its beef business lost $1 million in part because of the controversy over beef trimmings.
The company’s stock increased 59 cents at $18.63 as Tyson beat Wall Street expectations. The company reported net income of $166 million.
Tyson is the operator of the largest packing plant serving Iowa cattle producers. The company blamed its beef loss on high cattle prices and flat demand made worse by the controversy in March over lean, finely textured beef trimmings, dubbed “pink slime” by critics.
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