Tyson Foods reported stronger-than-expected fiscal third-quarter results and raised its full-year profit forecast, sending the shares up about 4.5% in early New York trading on 4 August. Quarterly revenue rose 4% from a year earlier to $13.88 billion, topping analysts’ $13.54 billion estimate. Adjusted earnings were $0.91 a share versus the $0.78 consensus, while adjusted operating income climbed to $505 million. Gross margin improved to 8.2% from 6.6%, although year-to-date free cash flow eased to $929 million. On the back of the beat, the company now expects adjusted operating income of $2.18 billion to $2.38 billion in fiscal 2025—about $100 million higher at the midpoint—and projects sales growth of 2% to 3%. Capital expenditures are seen at up to $1.08 billion, trimming the previous ceiling of $1.2 billion. Management said robust demand and lower feed costs in its chicken unit are offsetting a seventh straight quarterly loss in beef, squeezed by record cattle prices. Chief Executive Officer Donnie King told analysts that a long-anticipated rebuild of the U.S. cattle herd should begin in 2026 but is unlikely to bolster Tyson’s beef margins before 2028. He added that current valuations make share buybacks an “attractive opportunity.”