MW Tyson Foods' chicken business powers earnings beat
By Steve Gelsi
Food giant's stock rises in premarket trading
Tyson Foods Inc. on Monday topped Wall Street analyst expectations for profit and revenue as the meat producer's chicken business powered the company to its largest profit in two years.
Tyson $(TSN.AU)$ cited "exceptional" results in chicken as it reported an adjusted first-quarter profit of $1.14 a share, ahead of the FactSet consensus estimate of 90 cents a share.
Revenue rose 2.3% to $13.62 billion, which beat the FactSet consensus estimate of $13.46 billion.
"Consumers remain focused on adding protein to their diets, and our diversified multi-channel, multi-protein portfolio ensures we are well-positioned to meet this demand," the company said in a prepared statement.
Tyson Foods' stock rose 4% in premarket trading.
(This is a developing story with updates to come.)
-Steve Gelsi
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(END) Dow Jones Newswires
February 03, 2025 07:55 ET (12:55 GMT)
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