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News


November 14, 2017
 
Tyson quarterly earnings, revenue surpass analysts' estimations

 
 

 

Tyson Foods' higher quarterly earnings and revenue - revealed on November 13 - has exceeded analysts' expectations, with figures driven by both strong demand for chicken and beef, and lower feed costs.


According to Reuters, Tyson's shares increased 2.5% to US$76 in premarket trading. The company's outlook is likely to improve further as meat processors and producers recently enjoy a rising demand for beef and chicken as feed costs continue to drop.


Also, with the potential of record levels for corn and soybean harvests, feed cost could stay at a more affordable range, thus lowering costs of rearing hogs, cattle and poultry. 


Tyson's beef business, which is the company's biggest by revenue, saw a 9.5% increase in sales during the fiscal fourth quarter ended September 30. Operating income had more than doubled.


Tyson's sales of lean meat rose 8%, backed by a positive demand for chicken.


In addition, the company forecast a US$41 billion sales for the year ending September 2018, which is above analysts' average expectation of US$40.36 billion.


Tyson said it expects adjusted earnings of between US$5.70 and US$5.85 per share for the same period while analysts were looking at US$5.81.


Net income attributable to Tyson rose almost 1% to US$394 million or US$1.07 per share in the fourth quarter. Excluding one-time items, the company earned US$1.43 cents per share, ahead of analysts' estimates of US$1.38.


The company's net revenue rose 10.8% to US$10.15 billion, which surpassed analysts' estimates of US$9.89 billion.


- Reuters

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