Tyson Foods Stock Soars on Strong Beef and Chicken Sales Growth
Tyson Foods experiences a significant stock surge driven by rising beef and chicken prices, surpassing earnings expectations and boosting overall sales performance.
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Highlights
- Tyson Foods exceeded Q4 earnings forecasts, fueled by increased beef and chicken prices.
- Beef sales climbed 4.6% year-over-year, while chicken sales rose 2.3%.
- Following these results, Tyson's stock experienced a notable jump.
Shares of Tyson Foods (TSN) surged after the company reported better-than-expected profits and revenue, driven by higher prices in beef and chicken segments.
In the fourth quarter, adjusted earnings per share reached 92 cents, surpassing analyst predictions from Visible Alpha. Revenue increased by 1.6% year-over-year, totaling $13.57 billion, also beating expectations.
Beef segment revenue grew by 4.6% to $5.26 billion, and chicken sales increased by 2.3% to $4.25 billion, reflecting price gains. However, pork sales declined 3.7% to $1.44 billion due to a 6.9% drop in pork prices.
For fiscal year 2024, Tyson reported revenue of $53.31 billion, exceeding prior projections. CEO Donnie King highlighted the company’s strong profitability improvements throughout the year.
Looking ahead, Tyson anticipates 2025 revenue to remain flat or decline slightly by up to 1%, which is below market expectations.
Tyson’s shares climbed more than 8% during intraday trading and have gained over 18% since the beginning of the year.
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