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Arnd - 2 Tyson - 2 Granth - 2 Tom Polansek - 2 Donnie King - 1 John R - 1 Arun Sundaram - 1 Shailesh Kuber - 1
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Search resuls for: "Granth Vanaik Tom Polansek"


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☆ Tyson Foods shares recover after falling on downbeat revenue forecast
  + stars: | 2023-11-13 | by ( Granth Vanaik Tom Polansek | Granth Vanaik | Tom Polansek | ) www.reuters.com   time to read: +3 min
REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsNov 13 (Reuters) - Tyson Foods (TSN.N) on Monday forecast revenue for its next fiscal year below Wall Street estimates after fourth-quarter sales missed expectations due to falling chicken and pork prices and slowing demand for its beef. Tyson is operating more efficiently, however, and demand for protein remains strong, CEO Donnie King told analysts on a call. Chief Financial Officer John R. Tyson said in an interview on Monday that it is "business as usual" in China. Tyson reported operating margins of 1.8% in its chicken business in the quarter ended Sept. 30, after losses during the previous two quarters. Adjusted profits were 37 cents per share versus analysts' expectations for 29 cents.
Persons: Arnd, Tyson, Donnie King, John R, Arun Sundaram, Granth, Tom Polansek, Shailesh Kuber, Jan Harvey, Chizu Nomiyama, Deepa Babington Organizations: Tyson Foods, REUTERS, Wall, Reuters, CFRA Research, Reuters Graphics Reuters, Thomson Locations: Davos, Switzerland, China, U.S, Bengaluru, Chicago
☆ Tyson Foods sales hit by slowing demand, to shut four more US chicken plants
  + stars: | 2023-08-07 | by ( Granth Vanaik Tom Polansek | Granth Vanaik | Tom Polansek | ) www.reuters.com   time to read: +2 min
The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. REUTERS/Arnd Wiegmann/File PhotoAug 7 (Reuters) - Tyson Foods (TSN.N) missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products. The company said it is closing four more U.S. chicken plants in a bid to reduce costs. The company's average sales prices fell 16.4% for pork and 5.5% for chicken, while rising 5.2% for beef. Tyson has eliminated U.S. jobs and already shut two chicken processing plants in a bid to reduce costs.
Persons: Arnd, Tyson, Granth, Tom Polansek, Milla Nissi Organizations: Tyson Foods, REUTERS, Hormel, packers, Rabobank, Thomson Locations: Davos, Switzerland, Bengaluru, Chicago
☆ Tyson Foods posts surprise loss, cuts 2023 revenue forecast as beef, pork prices fall
  + stars: | 2023-05-08 | by ( Granth Vanaik Tom Polansek | Granth Vanaik | Tom Polansek | ) www.reuters.com   time to read: +2 min
May 8 (Reuters) - Tyson Foods Inc (TSN.N) posted a surprise second-quarter loss and cut its full-year revenue forecast on Monday as prices for its beef and pork have declined, sending the U.S. meatpacker's shares tumbling 9% before the bell. CEO Donnie King, who is seeking to cut costs, said meat markets are challenging and Tyson is focused on improving profit margins. The company lowered its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Average sales prices of beef and pork fell 5.4% and 10.3%, respectively, in the quarter ending April 1. Sales volumes in Tyson's beef segment also fell 3%, leaving the unit's overall sales down 8.3% at $4.62 billion.
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