Key TakeawaysTyson Foods posted better-than-expected results for the fourth quarter as higher beef and chicken prices lifted sales.Beef sales gained 4.6% from a year ago, while chicken sales increased 2.

Tyson Foods Inc. surged after beating fourth quarter earnings and projecting stronger results next year, with a turnaround in its chicken business offsetting losses in beef.

Shares of Tyson Foods Inc. were heading toward their biggest gain in nearly three years on Tuesday, after the consumer meats company reported fiscal fourth-quarter earnings that rose well above expectations,

Tyson Foods Inc. said it expects results to improve next year as a turnaround in the chicken business and rising demand for prepared foods offsets losses in beef.

Tyson Foods beat analyst estimates in its fiscal fourth-quarter with net income of $357 million, reversing a loss of $450 million a year ago. Adjusted earnings per share was

Earnings per share came to $1, up from a loss of $1.31 a year ago. Earnings, adjusted for non-recurring gains, were 92 cents per share.