Poster in Aug 09, 2022 03:59:22

Tyson Foods beat quarterly revenue estimates on beef demand

Tyson Foods beat quarterly revenue estimates on beef demand

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Tyson Foods Inc's quarterly revenue beat estimates on Monday(August 08, 2022), as demand for its chicken and beef products held steady in the face of decades of high inflation.

Packaged food makers have so far faced little pushback from consumers due to price hikes, but analysts have expressed concern that companies may be closing in on price caps as inflation pinches consumers' spending power.

Sales at the company's beef business, its largest, rose 1.3% in the third quarter.

Sales at the Jimmy Dean sausage maker rose to $13.50 billion in the third quarter from $12.48 billion a year earlier. Analysts on average had expected sales of $13.25 billion, according to IBES data from Refinitiv.

Net income attributable to Tysons was $750 million, or $2.07 per share, in the reported quarter, up from $749 million, or $2.05 per share, a year earlier.


Tyson Foods, Inc. is an American multinational corporation, based in Springdale, Arkansas, that operates in the food industry. The company is the world's second-largest processor and marketer of chicken, beef, and pork after JBS S.A. It annually exports the largest percentage of beef out of the United States. Together with its subsidiaries, it operates major food brands, including Jimmy Dean, Hillshire Farm, Ball Park, Wright Brand, Aidells, and State Fair. Tyson Foods ranked No. 79 in the 2020 Fortune 500 list of the largest United States corporations by total revenue.

The company was established by John W. Tyson in 1935. It expanded during World War II, when chicken was not included in foods that were rationed by the federal government.[8] As of 2019, the company employs 141,000 people,[2] including 122,000 in the United States. Tyson's locations are concentrated in the Midwest and South, with 16 locations in Arkansas, 11 in Texas, 9 in Iowa, and the remainder mostly in the eastern US, including Tennessee.

|Source: Online/SZK

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