Tyson Foods Inc slowed chicken processing this year after it recalled millions o...
) slowed chicken processing this year after it recalled millions of pounds of poultry over concerns they contained materials like rubber and metal, raising its costs, Chief Executive Noel White said on Wednesday.
The higher costs contributed to a $220-million cut to the company’s expected adjusted earnings for 2019 on Tuesday, White said at an investor conference. Almost half of the cut was linked to Tyson’s poultry business, he said, providing new details on the adjustment. The slowdown in chicken production shows the financial pain that can stem from recalls of products suspected of being contaminated with foreign objects.
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