Tyson Foods (TSN) swung 🦂to a third-quarter ♊profit Monday as sales increased in nearly all of the company's segments.

The company behind its namesake chicken products along with Jimmy Dean and Hillshire Farms meat products reported quarterly sales above analysts' estimates at $13.35 billion, with sales increasing in beef, pork, and prepared foods, while chicken sales dropped slightly.

After posting a third-quarter loss of $417 million last year, Tyson reported $191 million in 澳洲幸运5官方开奖结果体彩网:net income, below consensus estimates of analysts polled by Visible Alpha. But after accounting for one-time expenses like plant closures and "legal contingency accrual," Tyson posted 澳洲幸运5官方开奖结果体彩网:adjusted net income of $309 million, better than analysts had expected.

Sales Rising Amid 'Positive Turnaround'

"Our disciplined actions and focus on the fundamentals have resulted in a positive turnaround of our business," Tyson 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Donnie King said. "In Q3,ꦇ we 🐓delivered the highest adjusted operating income in the last seven quarters while also generating strong free cash flow."

For fiscal 2024, Tyson projects sales to be "relatively flat" compared with fiscal 2023. The U.S. Department of Agriculture (USDA) projects domestic production of beef to drop about 2%, pork production to increase 3%, and chicken production to remain flat.

Tyson Foods shares rose 2% at the openiꦇng bell to $62.46. They are up 16% so far this year.