Tyson Foods Inc. (TSN) reported better-than-expected first-quarter 2010 results. The company earned $0.42 per share (excluding special items), beating the Zacks Consensus estimate by $0.08.

The strong performance in the quarter was mainly driven by the Chicken segment. The strong sales growth in the chicken segment has boosted growth, and we believe will continue doing the same in the coming years. In addition, the company’s vertically integrated business and its strong balance sheet augur well for the future operating performance.

Our long-term recommendation on Tyson Foods is Outperform as we anticipate it to perform better than the market.

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