Tyson Foods Reports Increased 2021 Revenue Forecast

Tyson Foods has raised its fiscal 2021 revenue forecast due to higher-than-expected quarterly earnings from strong beef demands. Company officials say the demand comes primarily from pent up consumer demand and U.S. restaurants and hotels resuming business. Jimmy Dean hotdogs maker also says its sales are about $46-$47 billion compared to their expected sales of roughly $45 billion. For Tyson, chicken and prepared foods businesses remain pressured with feed cost increases reducing profit margins. See a full break down of the company’s reported numbers.