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Tyson Foods Sees Profits Plunge as COVID-19 Takes Its Toll

Tyson Foods Sees Profits Plunge as COVID-19 Takes Its Toll

The global pandemic has hit Tyson Foods (NYSE: TSN) from multiple directions. On the demand side, sales have shifted from foodservice to retail as the restaurant industry reels from the pandemic. While total revenue was up for Tyson in the second quarter, elevated production costs hurt the bottom line, and the company missed analyst estimates across the board.