Tyson Foods forecasts downbeat annual revenue on lower pork prices, slowing chicken demand

(Reuters) -Tyson Foods forecast full-year revenue below Wall Street expectations on Tuesday, pressured by slowing chicken demand and lower pork prices.

The company is losing market share to cheaper private-label products as more and more consumers shy away from its meat-based products, which are usually more expensive.

Sales in Tyson's chicken segment rose 2.3% in the fourth quarter, while prices were up 0.2% and volumes dropped 0.7%.

Tyson's pork segment saw volumes increase 3.2%, while prices fell 6.9%.

The company expects fiscal 2025 revenue to be between flat and down 1%. Analysts had expected 1.8% growth to $54.09 billion, according to data compiled by LSEG.

However, volume in the beef segment rose 3.7%, hinting to strong demand at a time when U.S. meat packers including Tyson Foods (NYSE:TSN ) are facing short supply of beef, with no signs showing that producers are willing to start to rebuild herds.



Tyson Foods' net sales rose 1.6% to $13.57 billion in the fourth quarter, compared with the average analyst estimate of $13.39 billion.

The company's shares rose nearly 6% in premarket trading.

Source: Investing.com