swung to a third-quarter profit, topping Wall Street's expectation, as both revenue and margins improved from beaten-down levels a year earlier.
The company also boosted its guidance for the full year. Shares were rising 16 cents, or 0.8%, to $21.57.
Tyson earned $111 million, or 31 cents a share, for the quarter ended June 30. Analysts polled by Thomson Financial predicted earnings of 25 cents a share.
Sales reached $6.96 billion, besting Wall Street's target of $6.74 billion.
A year earlier, Tyson recorded a loss of $52 million, or 15 cents a share, on revenue of $6.38 billion. The company spent much of last year being battered by a glut of chicken products and pricing pressures in the beef market, weighing heavily on results.
For the latest quarter, Tyson recorded sales and profit improvement in each of its segments, though sales volumes fell in the beef and chicken businesses. The company attributed the volume decline to planned production cuts and the effect of price increases.
Chicken sales rose to $2.07 billion from $1.92 billion, as prices jumped 19%. Sales volumes fell 9.5%.
In beef, sales rose to $3.36 billion from $3.03 billion, with a 13% rise in prices. Volumes declined 1.9%.
In the pork segment, sales rose to $853 million from $754 million, with a 6.5% rise in prices and a 6.1% increase in volumes.
For the full year, Tyson lifted its earnings forecast to 82 cents to 92 cents a share from a prior guidance of 65 cents to 90 cents. Analysts, on average, project earnings of 85 cents a share.