Companies and Brands

Tyson Foods’ Sales Outlook Something to Crow About

155308798
Thinkstock
Tyson Foods Inc. (NYSE: TSN) reported third-quarter fiscal 2013 results before markets opened this morning. The food processing company posted adjusted earnings per share (EPS) of $0.69 on revenues of $8.73 billion. In the same period a year ago, the company reported EPS of $0.51 on revenues of $8.26 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.60 and $8.65 billion in revenues.

The company said that it expects to post sales of $34.5 billion in its 2013 fiscal year and sales are forecast to rise to $36 billion in the 2014 fiscal year. The consensus analysts’ estimates call for sales of $34.21 billion this year and $35.02 billion next year.

For the first nine months of the current fiscal year, Tyson’s revenues totaled $25.48 billion. A little math shows that the company expects sales of more than $9 billion for the fourth quarter, well above the consensus estimate of $8.75 billion.

The company’s CEO said:

As expected, we are delivering robust results in the second half of our fiscal year. … Our Chicken segment achieved record operating income, and our Beef segment rebounded to generate solid returns. … We see a tremendous amount of opportunity in our business.

The consensus estimate calls for full-year EPS of $2.12, of which Tyson already has posted $1.52. The company did not provide EPS guidance, but based on its sales estimate, full-year EPS could be $0.10 a share or more above the analysts’ call.

Shares are up about 3.5% in premarket trading at $29.49, well above the top of stock’s 52-week range of $14.07 to $28.58. Thomson Reuters had a consensus analyst price target of around $30.40 before today’s report.

Cash Back Credit Cards Have Never Been This Good

Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.

 

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.