Tyson Foods Overcomes Challenges, Sees Growth Potential in Chicken Sales

Tyson Foods CEO, Donnie King, believes that chicken is a bright spot for the company in challenging economic times, as consumers gravitate towards cheaper and healthier protein options. Despite missing revenue targets, Tyson Foods reported growth in its chicken, prepared foods, and international business segments, while beef and pork volumes declined. King expects consumers to continue trading around different proteins, but chicken remains the protein of choice for those seeking lean, healthy protein at affordable prices. The company plans to open new plants for chicken products and sees prepared foods as a key growth opportunity. Tyson Foods expects adjusted operating income of $400 million to $700 million for its chicken segment in fiscal 2024.