Tyson Foods Boosts FY22 Sales Outlook As Q2 Results Top Estimates

(RTTNews) - Tyson Foods, Inc. (TSN) reported Monday that its second-quarter net Income attributable to the company surged to $829 million or $2.28 per share from $476 million or $1.30 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $2.29 per share, compared to $1.34 per share in the year-ago quarter. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.91 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $13.12 billion from $11.30 billion in the same quarter last year. Analysts expected revenue of $12.85 billion for the quarter.

Looking ahead to fiscal 2022, the company now projects sales in a range of $52 billion to $54 billion, up from the prior forecast range of $49 billion to $51 billion. The Street is looking for revenues of $51.79 billion for the year.