Tyson Foods Is Living High Off the Hog With Soaring Pork, Beef Sales
With global protein demand continuing to climb and African swine fever cutting a swath through Asian domestic pig herds along with disrupting German pork exports, growth went hog wild in some sectors for food processing company Tyson Foods (NYSE: TSN), as revealed in its latest quarterly report, issued this morning. According to Zacks Equity Research, Tyson beat Wall Street consensus estimates on both revenue and earnings per share in the fourth quarter.
The Zacks figures indicate analysts predicted $1.15 in EPS, while the actual figure of $1.81 delivered a 54.39% positive earnings surprise. EPS also blasted 49.6% higher year over year compared to the fourth quarter of 2019. In terms of revenue, Tyson surpassed the year-ago quarter by 5.33% and analyst expectations by 3.15% with its $11.46 billion in sales.
Inspecting hams before packaging. Image source: Getty Images.
Source Fool.com