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EN
Tyson lifts outlook as chicken sales, margins soar
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The Cattle Site
Profit margins jumped in Tyson's chicken and prepared foods businesses, while they worsened in its beef segment.
Volumes in Tyson's beef segment were down 3.1% during the quarter ended June 28, but sales grew 6.9% as prices jumped 10%.
The segment had an adjusted operating loss of $151 million, compared with losses of $69 million a year earlier.
Sales in the chicken segment rose 3.5%, with volumes up 2.4%.
The company's quarterly net sales rose 4% to $13.88 billion, compared with analysts' average estimate of $13.56 billion, according to data compiled by LSEG.
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