Tyson Foods Q4 Profit Beats Estimates, but Revenue Misses; Forecast In-Line (TSN)
Poultry producer Tyson Foods, Inc. (TSN) on Friday posted mixed fiscal first quarter earnings results, as profit beat Wall Street’s view but revenue fell short of expectations.
The Springdale, AR-based company reported fiscal first quarter net income of $173 million, or 48 cents per share, compared with $156 million, or 42 cents per share, in the year-ago period.
Revenue rose less than 1% from last year to $8.40 billion.
On average, Wall Street analysts expected a smaller profit of 42 cents per share, albeit on higher revenue of $8.60 billion.
CEO Donnie Smith commented, “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.”
Accordingly, TSN forecast full-year fiscal 2013 revenue to hit $35 billion, which is in-line with analysts’ outlook of $34.65 billion.
Tyson Foods shares rose 58 cents, or +2.6%, in premarket trading Friday. The stock has gained over 17% in the past year.
The Bottom Line
Shares of TSN currently offer a 0.9% dividend yield, based on Thursday’s closing price of $22.12 and the company’s annualized dividend payout of 20 cents per share.
Tyson Foods, Inc. (TSN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability