Tyson Foods Reports Forecast-Beating Profits, Helped Along by Higher Consumer Prices

Tyson Foods Reports Forecast-Beating Profits, Helped Along by Higher Consumer Prices
Tyson Foods beef meat loaf for sale at a grocery store in Encinitas, Calif., on May 29, 2014. Mike Blake/Reuters
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

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.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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