Tyson Foods posted mixed results in its fourth quarter and reported chicken sales have reached a three-year high amid a drop in demand for beef as prices rise.
Tyson, the largest meat company in the U.S., on Monday reported $13.86 billion in sales for its last fiscal quarter, missing Wall Street's $14.11 billion sales estimate, but posted better adjusted earnings than expected at $1.15 a share (analysts had forecast 84 cents), informed Forbes.
Chicken sales rose almost 4% over last year, from $4.251 billion to $4.411 billion, the company said, predicting they'll continue to rise another 2% to 4% in fiscal year 2026.
Tyson’s beef business, suffering due to the limited supply of American cattle, lost $94 million last quarter on an adjusted basis and, with domestic production of beef expected to continue falling, Tyson estimates it will have an adjusted operating loss between $400 million and $600 million for its beef business in fiscal 2026.
Tyson sold 8.4% fewer pounds of beef in the quarter with prices up 17% as the company’s cattle costs rose almost $2 billion from a year ago.
