Tyson Foods, Inc. (NYSE: TSN) on Monday reported an increase in second-quarter earnings, aided by strong sales across the board. The results also exceeded Wall Street’s projection and the company’s stock gained during the pre-market session.
Adjusted earnings moved up to $2.29 per share in the most recent quarter from $1.34 per share in the second quarter of 2021 and came in above analysts’ forecast. Net income was $829 million or $2.28 per share, compared to $476 million or $1.30 per share in the year-ago period.
Driving the bottom-line growth, second-quarter net sales rose to $13.12 billion from $11.30 billion in the corresponding period of last year. Analysts were looking for a smaller top-line number.
Check this space to read management/analysts’ comments on Tyson Foods’ Q2 2022 earnings
Tyson Foods’ shares gained about 3% early Monday soon after the earnings announcement, after closing the previous session lower.