Tyson Foods Inc. shares plunged 16 percent to a three-year low on Monday as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast amid slowing consumer demand. The weaker-than-expected results indicate cash-strapped shoppers are cutting back on meat spending in a high-inflation environment while a shrinking cattle herd forces Tyson…
Tyson Foods to Shut 2 US Chicken Plants With Nearly 1,700 Workers
March 14, 2023
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CHICAGO—Tyson Foods Inc. will close two U.S. chicken plants with almost 1,700 employees on May 12, the company said on Tuesday. The closures show that the biggest U.S. meat company by sales is still trying to figure out how to improve its chicken segment that has struggled for years. Tyson Foods will shut a plant…
Tyson Foods Misses Profit Estimates as Lower Beef Prices Bite; Shares Fall
Tyson Foods Inc. widely missed Wall Street estimates for quarterly profit on Monday and cut its expectations for operating margins this year in the face of falling beef prices and easing demand for pork. The results sent the U.S. meatpacker’s shares down more than 5 percent in premarket trade. A year earlier Tyson’s profits had…
Tyson Heir and CFO Settles Trespassing, Intoxication Charges
Tyson Foods Chief Financial Officer John R. Tyson—a great-grandson of the company’s founder—has settled public intoxication and criminal trespassing charges filed against him after he broke into a stranger’s home and fell asleep on her bed. Tyson pleaded guilty to both misdemeanors in a district court in Fayetteville, Arkansas, on Tuesday, according to the Fayetteville…
Woman Files Suit Accusing Mike Tyson of Rape in Early 1990s
NEW YORK—A woman has filed a lawsuit accusing former heavyweight boxing champion Mike Tyson of raping her sometime in the early 1990s after she met him at a nightclub in Albany, New York. The woman, who is suing for $5 million, said Tyson raped her in a limousine and that she has suffered from “physical,…
Farmers Group in Tennessee Sue USDA, Allege Illegal Subsidizing of Industrial-Scale Poultry Farms
Farmers in West Tennessee are suing the federal government, alleging that a loan program benefited mass poultry operations by subsidizing them rather than helping its intended target of family-run farms. The lawsuit calls the actions of the United States Department of Agriculture (USDA) “illegal corporate welfare.” The suit, filed in late December by the litigation…
Tyson Pork Plant in Indiana Suspended From Exporting to China: USDA
CHICAGO—Tyson Foods Inc.’s pork processing plant in Logansport, Indiana, has been suspended from exporting products to China, the U.S. Department of Agriculture said on Monday. The suspension is effective Aug. 29, the agency said. Neither USDA nor the company on Monday said why exports to China from the Tyson Fresh Meats plant has been halted….
Tyson Foods Sees Upbeat Sales as Meat Prices, Restaurant Demand Jump
November 15, 2021
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Top U.S. meatpacker Tyson Foods Inc. beat quarterly profit estimates on Monday and forecast fiscal 2022 revenue above market expectations on rising meat prices and improving demand from restaurants that have reopened after COVID-19 restrictions. The Springdale, Arkansas-based company reported a double-digit jump in sales and earnings in the fiscal fourth-quarter ended Oct. 2. “We…
Tyson Recalls 8.5 Million Pounds of Frozen Chicken Over Contamination Fears
Tyson Foods Inc is recalling nearly 8.5 million pounds of frozen, fully cooked chicken over fears of possible exposure to a harmful bacteria, the company said in a statement late on Saturday. The products were made at a plant in Missouri between Dec 26, 2020 and April 13, 2021, according to the statement. “While there…
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