Tyson Foods Falls 6% On Earnings Decline, Below Estimates
Shares of Tyson Foods, Inc. (TSN) are falling more than 5% Monday morning after the company’s first-quarter results missed analysts’ view.
Profit in the first quarter declined to $316 million or $0.88 per share from $1.121 billion or $3.07 per share in the same quarter a year ago, due primarily to higher expenses.
Excluding one-time items, earnings were $0.85 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $1.36 per share.
Quarterly sales, however, increased to $13.26 billion from $12.933 billion last year. Analysts were expecting sales of $13.52 billion.
Looking forward to the full year, the company expects sales to be in the range of $55 billion to $57 billion. The consensus estimate stands at $55.13 billion.
TSN, currently at $60.17, has traded in the range of $59.38-$100.72 in the last 1 year.
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