Tyson Foods Inc. (NYSE: TSN) released its fiscal fourth-quarter financial results before the markets opened on Tuesday. The company said that it had $1.58 in earnings per share (EPS) and $10.0 billion in revenue, while consensus estimates had called for $1.35 in EPS on revenue of $10.26 billion. In the same period of last year, Tyson said it had EPS of $1.43 and $10.14 billion in revenue.
Although the company reported a record net income in its Beef segment, too many other factors held the stock down.
In terms of its segments, the firm reported a follows:
- Beef revenues increased 3.4% year over year to $3.91 billion.
- Pork revenues decreased 2.7% to $1.13 billion.
- Chicken revenues increased 10.4% to $3.12 billion.
- Prepared Foods revenues decreased 7.9% to $2.10 billion.
- Other revenues decreased to $60 million from $92 million.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $5.75 to $6.10 and sales to grow to $41 billion. Consensus estimates call for $6.04 in EPS and $41.43 billion in revenue for the year.
Noel White, Tyson’s president and CEO, commented:
Tyson Foods produced solid earnings in fiscal 2018, demonstrating the strength of our differentiated portfolio and diversified business model. We exceeded our revised guidance due to a strong finish in the fourth quarter in the Beef and Pork segments. Prepared Foods drove margin expansion, while the Chicken segment closed the gap from earlier in the year with increased promotional activity.
Shares of Tyson Foods were last seen down 6% at $57.61, in a 52-week range of $56.79 to $84.65. The consensus analyst price target is $71.21.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.