Tyson Foods Swings To Profit In Q3; Backs FY24 Sales Outlook
(RTTNews) - Tyson Foods, Inc. (TSN) reported Monday net income attributable to the company for the third quarter of $191 million or $0.54 per share, compared to a net loss of $417 million or $1.18 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $0.87 per share, compared to $0.15 per share in the year-ago quarter.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter increased 1.6 percent to $13.35 billion from $13.14 billion in the same quarter last year. Analysts expected revenue of $13.24 billion for the quarter.
Looking ahead to fiscal 2024, the company continues to project sales to be relatively flat with fiscal 2023 sales of $53.88 billion. The Street is looking for revenues of $53.03 billion for the year.
The company also expects capital expenditures between $1.2 billion and $1.3 billion for fiscal 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Tyson Foods Q4 Results Top Estimates
Tyson Foods Slips To Loss In Q4; Guides FY24 Sales Below Estimates
Tyson Recalls Fully Cooked Chicken Fun Nuggets
Tyson Foods To Close 2 US Chicken Plants, Lay Off 1,700 Workers
Tyson Foods Affirms FY22 Sales Outlook As Q2 Net Profit Edges Up
Bay Street Likely To Open On Positive Note
U.S. Dollar Extends Fall Amid Fed Rate Cut Speculation
