Beef, chicken and pork prices are climbing, and Tyson is passing along those costs to consumers.
The company is now expecting total fiscal 2022 sales in the range of $52 billion to $54 billion, up from previous guidance of $49 billion to $51 billion. During the second quarter of 2022, Tyson reported adjusted earnings per share of $2.29 and generated $13.12 billion in total sales, including $5.03 billion in sales of beef, $4.09 billion in sales of chicken and $1.57 billion in sales of pork. Sales volume for beef and chicken was flat, while pork sales volume fell 4.
Tyson CEO Donny King emphasized on the company's earnings call on Monday that every part of the business is being impacted by inflationary pressures. Looking ahead, the company expects inflationary pressures will continue through the back half of the year.
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