Tyson Beats Revenue Estimates as Beef, Pork Sales Rise

Tyson Foods (TSN) swung to a third-quarter profit Monday arsenic income accrued successful astir each of nan company's segments.

The institution down its namesake chickenhearted products on pinch Jimmy Dean and Hillshire Farms nutrient products reported quarterly sales supra analysts' estimates astatine $13.35 billion, pinch income expanding successful beef, pork, and prepared foods, while chickenhearted income dropped slightly.

After posting a third-quarter nonaccomplishment of $417 cardinal past year, Tyson reported $191 cardinal successful net income, beneath statement estimates of analysts polled by Visible Alpha. But aft accounting for one-time expenses for illustration works closures and "legal contingency accrual," Tyson posted adjusted nett income of $309 million, amended than analysts had expected.

Sales Rising Amid 'Positive Turnaround'

"Our disciplined actions and attraction connected nan fundamentals person resulted successful a affirmative turnaround of our business," Tyson Chief Executive Officer (CEO) Donnie King said. "In Q3, we delivered nan highest adjusted operating income successful nan past 7 quarters while besides generating beardown free rate flow."

For fiscal 2024, Tyson projects income to beryllium "relatively flat" compared pinch fiscal 2023. The U.S. Department of Agriculture (USDA) projects home accumulation of beef to driblet astir 2%, pork accumulation to summation 3%, and chickenhearted accumulation to stay flat.

Tyson Foods shares roseate 2% astatine nan opening doorbell to $62.46. They are up 16% truthful acold this year.