Tyson Foods Inc (NYSE:TSN) shares gained more than 8% on stronger-than-expected results for the fiscal fourth quarter and full year.
The largest meat company in America saw its Q4 sales grow 1.6% year-over-year to $13.57 billion, above estimates of $13.33 billion.
Earnings per share of $0.92, up 149% from the year-ago quarter, comfortably beat the $0.64 consensus.
For fiscal 2024, EPS of $3.10 and revenue of $53.30 billion were ahead of estimates of $2.83 and $53.07 billion, respectively.
"We delivered significant improvement in profitability for the fourth quarter and full year. We also strengthened our financial position, with solid cash flow generation and a substantial reduction of our net leverage ratio,” Tyson Foods CEO Donnie King said in a statement.
"Our multi-protein, multi-channel portfolio, combined with our best-in-class team, iconic brands and focus on operational excellence positions us well for fiscal 2025 and beyond."
Shares of Tyson Foods added 8.7% at US$63.90 late morning on Tuesday.