Tyson Foods beats quarterly profit estimates on chicken demand
4 Articles
4 Articles
Tyson Foods Posts Falling Q1 Profit as Beef Segment Bleeds $319M
Tyson Foods Inc. of Springdale (NYSE: TSN) on Monday reported fiscal first-quarter net income of $85 million, a 76% drop from the same quarter a year ago. Per share, the company said it had net income of 24 cents. Earnings, adjusted for non-recurring costs, came to 97 cents per share. The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.01 per shar…
Tyson Foods beats quarterly profit estimates on chicken demand
CHICAGO, Feb 2 (Reuters) – U.S. meatpacker Tyson Foods reported bigger-than-expected quarterly earnings on Monday, as strong demand for its chicken products overshadowed hefty losses in its beef business. Beef prices have climbed as ranchers slashed the size of the U.S. cattle herd following a persistent drought that burned up pastures and hiked feeding costs, shifting some demand to lower-cost chicken. The cattle herd shrank to a 75-year low a…
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