Tyson Foods TSN reported third-quarter earnings of $1.47 per share, which beat the analyst consensus estimate of $1.45 by 1.38%. This is a 2% decrease over earnings of $1.50 per share from the same period last year.
The company reported quarterly sales of $10.885 billion, which missed the analyst consensus estimate of $11.08 billion by 1.76%. This is a 8.30% increase over sales of $10.051 billion the same period last year.
Tyson Foods reaffirmed fiscal year 2019 EPS guidance at $5.75-6.10 versus a $5.89 analyst estimate.
"Overall, third-quarter earnings were in line with our expectations," said Noel White, Tyson CEO. "Volume growth in our core retail lines continues to outpace other large food companies and the total food and beverage category, driven primarily by our new product innovation. Our Prepared Foods and Beef segments produced strong results in the quarter, while results in the Chicken segment were mixed, and the Pork segment was negatively affected by increased hog costs."
Tyson Foods shares were trading up 0.74% at $80.35 in Monday’s pre-market session. The stock has a 52-week high of $84.30 and a 52-week low of $49.77.
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