Why Tyson Foods Shares Are Trading Higher Today

Tyson Foods Inc (NYSE: TSN) is trading higher Monday after the company announced better-than-expected third-quarter fiscal 2021 financial results.

Tyson Foods reported quarterly earnings of $2.70 per share, which beat the estimate of $1.45 per share. The company reported quarterly revenue of $12.48 billion, which beat the estimate of $11.43 billion. 

Tyson Foods said it expects full-year fiscal 2021 revenue to be in a range of $46 billion to $47 billion.

“With trusted brands that met strong consumer demand, we have delivered 12 consecutive quarters of share gains in core business lines at retail. Our foodservice volume improved as the restaurant industry began to reopen and recover." said Donnie King, president and CEO of Tyson Foods.

Tyson Foods is the largest U.S. producer of processed chicken and beef. It's also a large producer of processed pork and protein-based products under the brands Jimmy Dean, Hillshire Farm, Ball Park, Sara Lee, State Fair and more. 

Price Action: Tyson Foods has traded as high as $81.79 and as low as $55.82 over a 52-week period.

At last check Monday, the stock was up 6.33% at $75.62.