Tyson reported third quarter earnings yesterday recording an 8% increase in overall revenue from last year, slightly higher than estimates of 6%, and earnings per share of $1.94 versus street expectations of $1.98.
- Appetite: While demand for chicken and beef remained strong overall throughout the quarter, there was reduced demand for pork and for premium cuts of beef.
- Challenges: Across Tyson's business segments, volumes decreased primarily due to supply chain constraints and the "challenging labor environment". Dealing with inflationary pressures, margins were down slightly in the quarter. Going forward, the Company expects to manage margins with cost efficiency and effective revenue management.
Read more from the Company's earnings report HERE.