Pent-up demand for dine-in experiences, newer meat items on
restaurant menus and a boom in Chinese demand for U.S. pork and
beef have also worked in favor of American meat processing
firms.
The Jimmy Dean sausages maker said it was expecting sales to be
about $49 billion to $51 billion for fiscal 2022, compared with
market estimates of $47.99 billion, according to Refinitiv IBES.
Sales rose to $12.81 billion in the fourth quarter from $11.46
billion a year earlier. Analysts on average were expecting sales
of $12.66 billion, according to Refinitiv IBES.
Net income attributable to Tyson increased to $1.36 billion, or
$3.71 per share, from $654 million, or $1.79 per share, a year
earlier.
(Reporting by Praveen Paramasivam in Bengaluru and Karl Plume in
Chicago; Editing by Ramakrishnan M.)
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