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Tyson Foods Falls After Results, Analyst Not Surprised by Market Reaction

Stock Markets Aug 08, 2022 09:18
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By Senad Karaahmetovic

Shares of Tyson Foods (NYSE:TSN) are down over 3% after the company reported weaker-than-expected FQ3 EPS figures.

TSN reported an adjusted EPS of $1.94 to miss on the $1.98 consensus. Revenue came in at $13.5 billion to beat the $13.31 billion expected. TSN also reported an operating margin of 7.7%, much lower than the analyst expectations of 8.5%.

For the full-year, Tyson Foods sees sales between $52 billion and $54 billion with the midpoint coming in higher than the estimate of $52.77 billion. Capital expenditures are now seen at $1.9 billion, lower than the prior $2 billion forecast.

“We anticipate another strong year with adjusted operating margin between 11% and 13% in fiscal 2022,” the company added.

A Goldman Sachs analyst commented:

“We see scope for shares to moderately underperform peers today, with essentially inline EPS driven by continued strength in Beef balanced by weaker-than-expected margins in the higher value-added Prepared Foods segment and lower Chicken.”

Tyson Foods Falls After Results, Analyst Not Surprised by Market Reaction
 

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