Tyson Foods Beats Quarterly Profit Estimates on Strong Chicken Demand
Tyson Foods beat Wall Street expectations for second-quarter profit on Monday, driven by increased demand for its chicken products and lower costs.
Shares of the company fell about 2% in premarket trading after it narrowly missed quarterly revenue estimates.
The company witnessed sustained demand for its frozen meat and ready-to-eat food as consumers increasingly preferred eating at home.
Robust growth in Tyson's chicken segment at its restaurant and food service channels helped the company offset stubbornly high beef prices due to low U.S. cattle supplies...
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