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What is Tyson's second quarter 2021?

When did Zacks discover earnings estimate revisions?

Tyson Foods' second-quarter fiscal 2021 adjusted earnings came in at $1.34 per share, which beat the Zacks Consensus Estimate of $1.11. Moreover, the bottom line surged 68% year over year.#N#Total sales came in at $11,300 million, which increased 3.8% from $10,888 million reported in the year-ago quarter. The top line surpassed the Zacks Consensus Estimate of $11,204 million. Gains from average price change were 7.5%, while total volumes declined 3.7%.#N#Gross profit in the quarter came in at $1,253 million, up from $1,021 million reported in the prior-year quarter. Gross profit, as a percentage of sales, came in at 11.1%, up from 9.4% reported in the year-ago quarter. Tyson Foods’ adjusted operating income soared 43% to $739 million. Moreover, adjusted operating margin expanded from 4.7% to 6.5% in the quarter.#N#During the quarter, the company incurred nearly $95 million as direct incremental expenses associated with COVID-19, which put pressure on results to an extent.These include team member costs, production facility sanitization, testing for coronavirus, donations, product downgrades, rendered product and professional fees. Apart from these factors, indirect COVID-19 costs included expenses associated with raw materials, transportation, underutilization and reconfiguration of plant, premiums offered to cattle producers and discounts on pricing.

Is pork lower in 2021?

In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com. Learn More.

Quarter in Detail

On an adjusted basis, the company expects its Prepared Foods unit to remain flat in fiscal 2021 year on year. The Pork segment is expected to remain lower than in fiscal 2020. Moreover, the Beef segment is expected to deliver better performance in fiscal 2021 compared with fiscal 2020 levels.

Segment Details

Adjusted earnings came in at $2.70 per share, which beat the Zacks Consensus Estimate of $1.77. The bottom line surged 93% year over year.

Other Financial Updates

Beef: Sales in the segment increased to $4,954 million from $3,653 million reported in the year-ago quarter. Volume improved 24% on the back of solid global demand and lower year-over-year production inefficiencies related to the pandemic. Average price increased 11.6% on the back of solid beef products demand.

Outlook

The company exited the quarter with cash and cash equivalents of $1,613 million, long-term debt of $8,786 million and total shareholders’ equity (including non-controlling interests) of $16,693 million. In the first nine months ended Jul 3, 2021, cash provided by operating activities amounted to $2,656 million.

Segment-Wise Guidance for Fiscal 2021

Management anticipates sales in the bracket of $46-$47 billion in fiscal 2021. Earlier, the company had projected the metric in the bracket of $44-$46 billion.

What is a TSN plant based bite?

For the Beef segment, USDA projects domestic production to increase nearly 3% year over year in fiscal 2021. For Pork, domestic production is likely to be flat year over year, per the USDA. Further, USDA forecasts domestic production in the Chicken segment to decline less than 1% in fiscal 2021.

Why is Tyson Foods recalling chicken?

Raised & Rooted™ brand, Tyson Foods' (NYSE: TSN) brand of plant protein products , is giving your tastebuds something to celebrate with the launch of its new Plant Based Bites. The snackable bites meet the growing demand and desire for plant-based products with delicious taste and fan favorite flavors.

What is the Tyson move?

Tyson Foods Inc is recalling nearly 8.5 million pounds of frozen, fully cooked chicken over fears of possible exposure to a harmful bacteria, the company said in a statement late on Saturday.

Is pork slowing down?

The move by Tyson, America’s biggest meat company, is among the most aggressive yet to prevent another wave of infections that shuttered food-production plants in 2020.So far, companies have mostly used bonuses and other incentives to encourage workers to get vaccines.

Chicken Industry Officials Prepare for Retrial in Price-Fixing Case

(Bloomberg) -- U.S. pork plants are slowing down, threatening to derail the biggest rally pig farmers have seen in years and potentially raising costs for meat giants such as JBS SA.By the end of this month, meatpackers will need to kill fewer hogs per hour after a federal judge in Minnesota threw out a U.S. Department of Agriculture directive that allowed elevated slaughter rates. Producers stand to lose $80 million this year as animals are likely to back up on their farms, said Jen Sorenson, p

Top 5 Consumer Staples Stocks to Buy Amid Recent Meltdown

Former Pilgrim’s Pride CEOs and other executives face charges in the Justice Department’s probe of the poultry industry. The new trial starts Tuesday.

Service Corporation (SCI) Rewards Investors With Dividend Hike

We have narrowed our search to five consumer staples stocks with positive growth potential for 2022. These are: TSN, HSY, Ko, PPC and BF.B

Is Tyson Foods (TSN) a Great Value Stock Right Now?

Service Corporation (SCI) rewards shareholders by raising the quarterly dividend. Strength in the Cemetery segment is an upside for the company.

UPDATE 1-Tyson Foods lifts mask mandate for some workers, but not at meat plants

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

CEOs 'are crowing' about raising prices 'while bringing in record profits', economist says

Tyson Foods Inc lifted a mask mandate for fully vaccinated employees at some U.S. facilities on Tuesday, but those at meatpacking plants must continue wearing masks for now. The meat processor joins major employers like Amazon.com and Walmart in relaxing mask requirements.

Tyson Foods lifts mask mandate for some workers, but not at meat plants

Rakeen Mabud, Groundwork Collaborative chief economist and managing director of policy and research, joins Yahoo Finance Live to discuss what's driving price increases for consumers.

How much money did Tyson Foods donate to the community?

CHICAGO (Reuters) -Tyson Foods Inc lifted a mask mandate for fully vaccinated employees at some U.S. facilities on Tuesday, but those at meatpacking plants must continue wearing masks for now. The meat processor joins major employers like Amazon.com and Walmart in relaxing mask requirements.

Is Tyson Foods sanitizing?

To the company's credit, Tyson Foods will donate at least $13 million to support communities affected by COVID-19 and give nearly $60 million in bonuses to frontline workers. Those are uplifting moves at a difficult time for many.

Tyson Foods Q2 Earnings Top Estimates, Sales Up Y/Y

Segment Details

• Beef: Sales in the segment increased to $4,046 million from $3,979 million reported in the year-ago quarter. Volume declined 5.8% year over year due to lower live cattle processed stemming from impacts of severe winter weather and tough labor environment. Average sales price increased 7.5% on the back of solid beef products demand. Pork: Sales in t...

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Other Financial Updates

Outlook

Segment-Wise Guidance For Fiscal 2021

Tyson Foods Q3 Earnings Top Estimates, Sales Up Y/Y

Quarter in Detail

• Adjusted earnings came in at $2.70 per share, which beat the Zacks Consensus Estimate of $1.77. The bottom line surged 93% year over year. Total sales came in at $12,478 million, which increased 24.5% from $10,022 million reported in the year-ago quarter. The top line surpassed the Zacks Consensus Estimate of $11,198.8 million. Gains from average p...

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Segment Details

Other Financial Updates

Outlook

Segment-Wise Guidance For Fiscal 2021