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Aug. 9, 2021, 8:00 a.m. EDT

Tyson stock rises after earnings beat

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By Tonya Garcia

Tyson Foods Inc. /zigman2/quotes/201117502/composite TSN +1.61% stock rose 2.3% in Monday premarket trading after the meat manufacturer reported fiscal third quarter earnings and sales that beat expectations. Net income totaled $749 million, or $2.05 per share, up from $526 million, or $1.44 per share, last year. Adjusted EPS of $2.70 far exceeded the FactSet consensus for $1.61. Sales of $12.48 billion were up from $10.02 billion and also beat the FactSet consensus for $11.46 billion. Foodservice demand increased, giving the prepared food category a boost to sales of $2.32 billion. And demand for beef was up with volume growth of 24%, reaching sales of $4.95 billion. Tyson announced last week that it will require that all workers are vaccinated. Expenses tied to COVID-19 were $55 million in the third quarter. Tyson stock has gained 10.4% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.11% has gained 18.1% for the period.

/zigman2/quotes/201117502/composite
US : U.S.: NYSE
$ 82.50
+1.31 +1.61%
Volume: 1.28M
Oct. 22, 2021 4:00p
P/E Ratio
12.80
Dividend Yield
2.16%
Market Cap
$29.52 billion
Rev. per Employee
$310,683
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/zigman2/quotes/210599714/realtime
US : S&P US
4,544.90
-4.88 -0.11%
Volume: 1.82B
Oct. 22, 2021 5:04p
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