Tyson Foods TSN reported first-quarter earnings of $1.66 per share on Thursday, which beat the analyst consensus estimate of $1.65. This is a 5.06% increase over earnings of $1.58 per share from the same period last year.
The company reported quarterly sales of $10.815 billion, which missed the analyst consensus estimate of $11.04 billion. This is a 6.10% increase over sales of $10.193 billion the same period last year.
"Our Beef and Pork segments performed well as the effects of African swine fever are beginning to materialize,” Noel White, Tyson Foods CEO said in a statement. “Our Chicken segment performed better operationally, although in a soft pricing environment. Our Prepared Foods segment produced its sixth consecutive quarter of retail consumption growth, demonstrating the strength of our brands and innovation as we grew or held market share in all core categories."
Tyson Foods shares were trading down by 4.4% at $80.40 in Thursday’s session. The stock has a 52-week high of $94.24 and a 52-week low of $58.20.
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