By Dhirendra Tripathi
Investing.com – Tyson Foods (NYSE:TSN) shares fell by more than 2% Monday after its chief executive officer warned inflation across its supply chain could pressure margins.
“We’re seeing substantial inflation across our supply chain, which will likely create margin pressure during the back half of the year,” Tyson Foods President and CEO Dean Banks said in a statement.
That news offset an increase in 2021 guidance for revenue to range between $44 billion and $46 billion from the previous $42 billion to $44 billion given in February.
Tyson's sales for the second quarter ended April 3 rose about 4% to $11.3 billion from a year earlier, exceeding forecasts from analysts, who were on average expecting $11.19 billion, data from Refinitiv showed.
EPS came in at $1.34, a 67.5% improvement from the 80 cents of the same quarter last year.