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Tyson Shares Slump Most in Two Years as Inflation Hits Meat Sales

  • Top US meat company’s third-quarter earnings ‘a little light’
  • Consumers have been trading down on meat cuts due to costs
Updated on

Tyson Foods Inc., the biggest US meat company, is getting hit by inflation with soaring costs and a tight labor market squeezing sales of chicken and pork. 

The owner of Hillshire Farm and Ball Park hot dogs posted adjusted earnings Monday of $1.94 a share for its third quarter, narrowly missing the $1.98 average estimate of analysts surveyed by Bloomberg. Shares fell as much as 9.8%, the biggest intraday tumble since March 2020.