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Meatproducers have increased prices of their products to combat inflation. This, however, did not dent demand from restaurants launching new menu items to bring back customers lost during the pandemic.
The Springdale, Arkansas-based company’s sales rose 23.6% to $12.93 billion in the first quarter ended Jan. 1, beating analysts’ average estimate of $12.18 billion, according to IBES data from Refinitiv.
Net income attributable to Tyson increased $1.12 billion, or $3.07 per share, from $467 million, or $1.28 per share, a year earlier.
