Tyson's Terrible Quarter Raises 2 Big Questions for Investors
In some regards, one almost has to feel a bit of sympathy for struggling meat producer Tyson Foods (NYSE: TSN). First, the pandemic created obvious logistical headaches. Now, post-pandemic inflation and economic wobbliness are proving problematic.
As management bluntly admitted in its disappointing fiscal second-quarter report last Thursday, "The current protein market is challenging."
Last quarter's top challenge? Beef, pork, and chicken prices are simply too low -- or maybe costs are too high. Or, perhaps it's both. Whichever it is, Tyson's $12.6 billion cost of sales in the latest quarter chewed up nearly all of its $13.1 billion in revenue and pushed the food giant out of the black and into the red for the period.
Source Fool.com
