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Tyson Soars as Rising Meat Prices Boost Profit, Sales View

  • Shares surge most in almost two years after earnings report
  • Meat industry is under U.S. scrutiny for pricing and profits
Bloomberg business news
Beef, Bacon, Car Prices Surging Due to Inflation
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Tyson Foods Inc. surged the most in almost two years, leading gains on the S&P 500 after the company reported higher profit and projected improving sales and margins on the back of rising meat prices.

The company on Monday posted fiscal first-quarter profit per share excluding one-time items that beat each analyst estimate compiled by Bloomberg, and said sales will be at the upper end of a previously stated $49 billion to $51 billion range for the current financial year. Tyson rose as much as 13% in New York trading, the most since March 2020, touching an all-time high.