Adds background, revenue Nov 16 (Reuters) - Tyson Meals Inc
Adds background, revenue
Nov 16 (Reuters) – Tyson Meals Inc TSN.N beat quarterly gross sales estimates on Monday, as the most important U.S. meat processor benefited from shoppers shopping for extra of its beef and pork merchandise throughout the COVID-19 pandemic.
U.S. meat producers have seen gross sales quantity get better after COVID-19-triggered non permanent vegetation closures, boosted by robust demand from meals retailers and an uptick in gross sales at a number of restaurant chains in latest weeks.
Tyson’s gross sales rose to $11.46 billion from $10.88 billion within the fourth quarter ended Oct. 3. Analysts on common had anticipated gross sales of $11.01 billion, Refinitiv information confirmed.
Web earnings attributable to Tyson rose to $692 million, or $1.90 per share, from $369 million, or $1.01 per share, a 12 months earlier.
(Reporting by Praveen Paramasivam in Bengaluru and Tom Polansek in Chicago; Enhancing by Maju Samuel)
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