Tyson Foods raises 2021 revenue forecast on strong beef demand

FILE PHOTO: Tyson food meat products are shown in this photo illustration in Encinitas, California May 29, 2014. REUTERS/Mike Blake

(Reuters) – Tyson Foods Inc on Monday raised its forecast for fiscal 2021 revenue, as the largest U.S. meat processor benefited from strong demand for its beef products after restaurants and hotels resumed businesses across the country.

The Jimmy Dean hotdogs maker said it expects sales to be about $46 billion-$47 billion for fiscal 2021, compared with an earlier forecast range of $44 billion to $46 billion. Analysts on average expect sales of $45.09 billion, according to IBES data from Refinitiv.

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