Tyson Foods forecasts downbeat annual revenue
Lower pork prices, slowing chicken demand expected
13 November 2024
1 minute read
By: Tyson Foods forecast full-year revenue below Wall Street expectations on Tuesday, weighed down by slowing chicken demand and lower pork prices, reported Reuters.
Sales in Tyson's chicken segment rose 2.3% in the fourth quarter, while prices were up 0.2% and volumes dropped 0.7%.
Tyson's pork segment saw volumes increase 3.2%, while prices fell 6.9%.
The company expects fiscal 2025 revenue to be between flat and down 1%. Analysts had expected 1.8% growth to $54.09 billion, according to data compiled by LSEG.
Tyson Foods' net sales rose 1.6% to $13.57 billion in the fourth quarter, compared with the average analyst estimate of $13.39 billion.
