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 story : Tyson earnings beat expectations but warns of mounting margin pressure #FinanceUSA #StockMarketNEWS Tyson Foods Inc. stock rose 1% in Monday premarket trading after the protein manufacturer reported

@stockMarketNEWS Mon 10 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Tyson earnings beat expectations but warns of mounting margin pressure #FinanceUSA #StockMarketNEWS
Tyson Foods Inc. stock rose 1% in Monday premarket trading after the protein manufacturer reported fiscal second-quarter earnings and sales that beat expectations. Net income totaled 6 million, or .30 per share, up from 6 million, or .03 per share, last year. Adjusted EPS of .34 was up from 80 cents last year and ahead of the FactSet consensus for .15. Sales of .30 billion were up from .89 billion last year and also beat the FactSet consensus for .19 billion. "We're seeing substantial inflation across our supply chain, which will likely create margin pressure during the back half of the year," said Dean Banks, Tyson's chief executive in a statement. COVID-19-related expenses for the second quarter totaled million. Costs include personal protective equipment for workers and COVID testing. Tyson has faced lawsuits over pandemic-related deaths among its workers, and fired seven after allegations that managers were betting on which workers would get COVID-19. Tyson stock has gained 22.3% for the year to date while the S&P 500 index is up 12.7% for the period.


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