Tyson Foods Beats Q2 Earnings Estimates

Tyson Foods Inc., one of the world's largest meat processors, reported better-than-expected results for its fiscal second quarter on Monday, posting adjusted earnings per share of $0.87 and revenue of $13.65 billion. The figures surpassed analyst estimates of $0.76 to $0.79 per share and $13.58 billion to $13.63 billion in sales, respectively, driving the company's stock to a 52-week high.

Shares of Tyson Foods, traded on the New York Stock Exchange under the ticker TSN, climbed as high as $66.41 during the session before settling at $65.56, up from the previous close of $63.68 on elevated volume of more than 2 million shares. The stock rose about 3 percent in midday trading, building on an 8.6 percent year-to-date gain.

The results reflected strength in the chicken and prepared foods segments, which offset ongoing losses in beef. Chicken operations generated $523 million in adjusted operating income, achieving a 12.2 percent margin, with volumes up 1.7 percent and prices increasing 1.8 percent. Prepared foods contributed $352 million in income with a 14 percent margin, exceeding revenue projections through growth in both volume and pricing. Pork also saw gains in those metrics....