For the first three months of its 2023-24 fiscal year, Tyson Foods reported adjusted EPS of $0.69, down 19% year-on-year, for an adjusted operating margin of 3.1%, compared with 3.4% a year earlier.

At just over $13.3 billion, the meat specialist's sales rose timidly by 0.4% thanks to higher average selling prices, while its volumes remained sluggish.

In terms of outlook for the current full year, Tyson Foods expects adjusted operating profit of between one and 1.5 billion dollars, with revenues expected to be relatively stable compared with the previous year.

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