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The company's shares slumped the most since 2023 as investors shrugged off stronger-than-expected quarterly earnings to focus on deepening losses at its beef business.

Tyson Foods will shut a meat plant in Kansas next year, eliminating 809 jobs, as the company seeks to slash costs amid a downturn in the beef industry.

JBS, the biggest global meat producer, is reaping the benefits of a world that’s eating more chicken, sending demand surging and helping the company post its best quarterly profit in two years.

Tyson Foods said Curt Calaway has been named chief financial officer, replacing company heir John R. Tyson.

Companies including Tyson Foods and JBS SA, which control a sizable chunk of global meat supplies, are set to report a spike in earnings for the quarter ended in June as a rebound in poultry profits counterbalances a downturn in their U.S. beef operations.

Tyson Foods will centralize areas such as transportation and warehousing under fresh meats head Brady Stewart in the food giant’s latest effort to restore profits.

Tyson Foods Inc., the biggest U.S. meat company, is exploring options including a potential sale of its China business, according to people with knowledge of the matter.

Tyson Foods Inc. is closing four chicken processing plants as it looks to lower costs.

Tyson Foods Inc., the top U.S. meat company by sales, reported better-than-expected earnings as surging prices for beef and chicken helped to offset a decline in volumes amid a tight labor market.

The Biden administration is taking aim at major meatpackers, charging that “pandemic profiteering” is squeezing consumers and farmers alike, with a few companies that dominate the industry raking in record profits.