Tyson Foods Not Worried About Tariffs, Raises Earnings Forecast
Key Points:
* Tyson Foods not expecting "significant impact" from tariffs
* Company has planned for tariffs in adjusted operating income forecast
* Raised forecast by $100 million to $1.9 billion to $2.3 billion
* Sends 10% of hogs processed to Mexico, may adjust if retaliatory tariffs implemented
* Other agricultural goods, such as avocados and tomatoes, could impact consumer prices
* Strong demand for chicken and beef drives earnings expectations
* Company attributes strong quarter to strategic pillars and growth in branded businesses
* JPMorgan and Bank of America remain Neutral due to challenges in cattle supply and beef segment