Tyson Foods Inc. reported higher earnings and sales due to the company’s efforts to offset the impacts of inflation, including raising sales prices in the second quarter, which ended April 2, 2022.
The company’s adjusted net income for the quarter was $833 million, equal to $2.29 per share on the common stock—nearly 75 percent higher than the net income of $477 million, or $1.34 per share, in the same period last year.
In the beef segment, sales volume increased slightly in the second quarter, driven by strong global demand, but it was partially offset by labor and supply chain constraints. Strong global beef demand and higher prices, offset by increases in input costs, were reflected in the company’s sales of $5.03 billion for the quarter, a 24 percent increase from the same period last year.
