Tyson Foods profit beats estimates on chicken demand
Tyson reported quarterly earnings of 87 cents per share as chicken demand offset beef losses. The firm raised its annual income forecast to $2.4 billion.
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TYSON FOODS INC-CL A reported Q2 adjusted earnings of 87 cents per share, beating the 78-cent estimate on Monday midday. Consumers in the United States are pivoting to cheaper poultry as record beef prices curb demand for expensive cuts. Tyson's poultry strength allows the processor to raise full-year guidance despite a persistent supply crunch in the cattle market.
