Why Tyson Foods Stock Jumped to a New All-Time High Today
Shares of Tyson Foods (NYSE: TSN) surged 12.2% to a record-high closing of $99.09 on Monday after the food services giant delivered strong revenue and earnings growth.
Tyson's sales rose 24% year over year to $12.9 billion in its fiscal 2022 first quarter, which ended on Jan. 1. The company's adjusted operating income, in turn, leaped 40% to $1.4 billion, while its adjusted earnings per share soared 48% to $2.87.
The gains were driven by price increases. Average prices for Tyson's beef, chicken, and pork products jumped 31.7%, 19.9%, and 12.8%, respectively.
Source Fool.com
