:max_bytes(150000):strip_icc()/GettyImages-1977949165-f02662ef8b5749f4b46653f8ebbf521e.jpg?w=780&resize=780,470&ssl=1 "Tyson Stock Surges as Higher Beef and Chicken Prices Boost Results")
Key Takeaways
- Tyson Foods posted better-than-expected results for the fourth quarter as higher beef and chicken prices lifted sales.
- Beef sales gained 4.6% from a year ago, while chicken sales increased 2.3%.
- Shares of Tyson surged Tuesday following the news.
Tyson Foods (TSN) shares took off Tuesday after the meat processor beat profit and sales estimates as higher prices helped boost beef and chicken sales.
The company posted fourth-quarter adjusted earnings per share (EPS) of 92 cents, above the analysts’ estimates compiled by Visible Alpha. Revenue was up 1.6% year-over-year to $13.57 billion, also ahead of forecasts.
Beef sales gained 4.6% to $5.26 billion, while chicken sales increased 2.3% to $4.25 billion as prices rose. Pork prices sank 6.9%, sending sales tumbling 3.7% to $1.44 billion.
Tyson’s fiscal 2024 revenue came in at $53.31 billion, more than the company had projected in the third quarter. CEO Donnie King said Tyson “delivered significant improvement in profitability for the fourth quarter and full year.”
The company said it anticipates full-year 2025 revenue as flat to down 1% from 2024, below expectations.
Tyson shares were up over 8% in intraday trading Tuesday and have added over 18% since the start of the year.
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