Tyson Foods cuts full-year profit outlook as beef shortage shows little sign of easing
Tyson Foods Inc. cut its full-year profit outlook, signaling that relief from the historic shortage of live cattle in the U.S. beef industry remains far off. The company’s chicken business continued to serve as a key growth engine, offsetting weakness in beef and helping lift Tyson’s stock during Monday trading. Tyson’s largest beef business is now expected to post a full-year adjusted operating loss of $500 million to $650 million, wider than the company’s previous forecast of $350 million to $500 million.
Tyson Foods Inc. cut its full-year profit outlook, signaling that relief from the historic shortage of live cattle in the U.S. beef industry remains far off.
The company’s chicken business continued to serve as a key growth engine, offsetting weakness in beef and helping lift Tyson’s stock during Monday trading.
Tyson’s largest beef business is now expected to post a full-year adjusted operating loss of $500 million to $650 million, wider than the company’s previous forecast of $350 million to $500 million.
The company’s chicken business continued to serve as a key growth engine, offsetting weakness in beef and helping lift Tyson’s stock during Monday trading.
Tyson’s largest beef business is now expected to post a full-year adjusted operating loss of $500 million to $650 million, wider than the company’s previous forecast of $350 million to $500 million.