Companies and Brands
Tyson Foods Earnings, Outlook Satisfy Investors' Appetites
Published:
Last Updated:
For the full year, Tyson posted revenues of $34.37 billion, slightly below both its forecast of $34.5 billion at the end of the third quarter and the consensus estimate of $34.43 billion. Full-year EPS totaled $2.22, equal to the consensus estimate.
Tyson reiterated its fiscal 2014 sales estimate of $36 billion, which is higher than the current consensus estimate of $35.69 billion. The company expects sales of its chicken, beef, pork and turkey products to rise by 1% next year. Falling grain costs are also expected, which should help margins. The company’s prepared food segment 2014 growth is expected to be slightly below its normalized range of 4% to 6%. Beef and pork sales growth could be below normalized ranges, while sales of chicken are expected to be at or above the normalized growth range of 5% to 7%.
At the end of the third fiscal quarter, the consensus estimate for full-year EPS jumped from $2.12 to $2.22. Tyson is one of those rare companies that jumped over a raised bar rather than a lowered one. Given the firm’s revenue estimate for next year, analysts’ estimates are also likely to rise.
Shares were up about 4.3% in premarket trading at $30.00, in a 52-week range of $17.65 to $32.40. Thomson Reuters had a consensus analyst price target of around $34.60 before this report.
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.