Meat processing giant Tyson Foods saw its shares surge by nearly 12 percent on opening bell Monday after the company reported forecast-beating fiscal first-quarter profits, boosted by higher consumer prices amid the broader inflationary environment.
Tyson Foods, the biggest U.S. producer of processed chicken and beef, reported net income of $1.126 billion in the company’s fiscal first quarter of 2022, more than double the $472 million it reported in the year-ago quarter. The company also reported quarterly net income of $2.87 per share, beating forecasts of around $1.90.
