Tyson Foods Earnings: Shares Climb on Double-Digit Profit Growth
Tyson Foods Inc. (NYSE:TSN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Shares are up 3.07%.
Tyson Foods Inc. Earnings Cheat Sheet
Results: Net income increased 10.9% to $173 million (48 cents per diluted share) in the quarter versus a net gain of $156 million in the year-earlier quarter.
Revenue: Rose 0.85% to $8.4 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tyson Foods Inc. reported adjusted net income of 48 cents per share. By that measure, the company beat the mean analyst estimate of $0.42. It missed the average revenue estimate of $8.6 billion.
Quoting Management: “Fiscal 2013 is off to a good start,” said Donnie Smith, president and chief executive officer of Tyson Foods. “With earnings of $0.48 per share in the first quarter, we are on our way to producing earnings this year better than fiscal 2012. We knew we’d face headwinds, and that has certainly been the case; however, we’re not simply holding our own. We’re producing solid results while preparing for growth…
…We are being both methodical and innovative in our approach to managing the challenges that come in this business, and our approach is working. I have every confidence in our team’s ability to execute their plans and meet their goals. This is an exciting time at Tyson, and while we’re pleased with the progress we’ve made, we feel like we’re just getting started.”
Revenue increased 0.32% from $8.37 billion in the previous quarter. Net income decreased 6.49% from $185 million in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.29 to a profit $0.42. For the current year, the average estimate has moved up from a profit of $1.57 to a profit of $1.9 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials.)