Tyson Food’s Quarterly Earnings Exceed Expectations

Tyson Food’s fiscal fourth-quarter earnings exceeded expectations, thanks to strong beef and pork demand. The $11.46 billion in sales for the fiscal fourth quarter are an increase from last year’s $10.88 billion. Net income for the company is at $692 million, an increase from $369 million one year ago. The processor has $200 million in COVID-related expenses for the quarter and $540 million in expenses for the fiscal year including production facility downtime and personal protection equipment. Tyson anticipates beef and pork segments to remain strong in 2021.