00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tyson Foods reported better-than-expected quarterly earnings as strong chicken sales
00:07offset declining demand for high-priced beef, according to Reuters.
00:11Tyson Foods reported adjusted earnings of $0.87 per share on $13.65 billion in revenue for the
00:18second quarter, beating estimates of $0.78 per share and $13.61 billion.
00:24The company expects a wider adjusted operating loss of $350 million to $500 million in its
00:31beef business in fiscal 2026, compared with its earlier forecast of $250 million to $500
00:38million.
00:39Chicken sales increased as consumers shifted to lower-priced meats, while beef demand declined
00:44due to record prices tied to limited cattle supply.
00:47Beef volumes fell 13.1%, while prices rose 11.5%.
00:53And the segment posted a $202 million operating loss.
00:57Shares rose about 2% in pre-market trading.
01:00For all things money, visit Benzinga.com.
Comments