Tyson Foods Inc. (TSN) Offers Weak Outlook
Tyson Foods Inc., the world's largest meat company, swung to a profit Monday for its fourth quarter, but forecast earnings for this year below what analysts were expecting.
Tyson shares fell 4 percent in morning trading.
The company cited cost-cutting for the improved performance in the July-September period but said cost pressures will rise this fiscal year.
Tyson earned $32 million, or 9 cents per share, in the three months ended Sept. 29 versus a loss of $56 million, or 17 cents per share, a year ago.
Revenue rose 6 percent to $6.88 billion from $6.47 billion in the year-ago quarter.
Analysts polled by Thomson Financial expected a profit of 10 cents per share on revenue of $6.73 billion. The earnings estimates typically exclude one-time items.
Tyson shares fell 4 percent in morning trading.
The company cited cost-cutting for the improved performance in the July-September period but said cost pressures will rise this fiscal year.
Tyson earned $32 million, or 9 cents per share, in the three months ended Sept. 29 versus a loss of $56 million, or 17 cents per share, a year ago.
Revenue rose 6 percent to $6.88 billion from $6.47 billion in the year-ago quarter.
Analysts polled by Thomson Financial expected a profit of 10 cents per share on revenue of $6.73 billion. The earnings estimates typically exclude one-time items.
Labels: TSN, Tyson Foods Inc.
posted by Stock Administrator @ 2:03 PM
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