Meat demand is still going strong despite soaring inflation, according to second-quarter results from Tyson Foods Inc.
The biggest U.S. meat company by sales said a pickup in beef and chicken volumes boosted returns, and it raised its full-year revenue outlook to a range of $52 billion to $54 billion, from $49 billion to $51 billion previously.
The top U.S. chicken producer and owner of Hillshire Farms and Ball Park hot dogs has been raising prices to offset a tight labor market and soaring costs. Chicken breasts were fetching record prices at supermarkets. People are also reading… Adjusted earnings in the second quarter of $2.29 per share topped analyst estimates for $1.90. Sales of $13.12 billion compared with estimates for $12.8 billion.
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