Tyson Foods Raises Outlook As CEO Highlights Resilient Protein Portfolio

Tyson Foods Inc.’s (NYSE: TSN) stock surged on Monday after it reported better-than-expected third‑quarter results. Adjusted earnings of 91 cents per share beat the average analyst estimate of 88 cents.

Revenue grew 4% year-over-year to $13.88 billion, topping the $13.54 billion estimate. Total sales volume declined 0.1% in the quarter, while average selling prices rose 3.7%, resulting in an overall 4% gain.

GAAP earnings dropped to 17 cents per share from 54 cents a year earlier, driven by a $343 million goodwill impairment in the Beef segment.

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Adjusted operating income rose 3% to $505 million, while GAAP operating income fell 24% to $260 million. The company reported a GAAP operating margin of 1.9% and an adjusted margin of 3.6%.

Beef segment sales increased 6.9% to $5.6 billion. The segment posted a GAAP operating loss of $494 million and an adjusted loss of $151 million. Pork revenue rose ...