Tyson Jumps as Quarterlies Come Out
Tyson Foods, Inc. (NYSE:TSN) saw its shares vault Monday, on the release of quarterly earnings.
The Springdale, Ark. company boasts a status as one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair.
Today, it reported the following results. GAAP Earnings per Share of $1.17, up 38% from prior year; Adjusted EPS of $1.20, down 6% from the prior-year
GAAP operating income of $635 million; Adjusted operating income of $654 million
Total Company GAAP operating margin of 6.1%; Adjusted operating margin of 6.3%
The tale was told in the Prepared Foods report, which declared that second-quarter GAAP operating margin and income of 12.1% and $245 million. The company also announced record second-quarter Adjusted operating margin and income of 12.3% and $249 million
Tyson also boasted record second quarter Beef GAAP and Adjusted operating income of $156 million
Said CEO Noel White, "I’m pleased with our direction as we begin the back half of the year.
"The Prepared Foods segment produced its second consecutive quarter of record return on sales. Both the Beef and Pork segments were solid performers, while the Chicken segment is poised for improvement following what we believe are its margin lows for the year."
What’s more, White said, "we are maintaining our guidance for fiscal 2019 in the range of $5.75-6.10 adjusted earnings per share, and we will stay focused on the long-term by growing our business on the strength of our leading brands and our diversified business model."
Shares leaped $1.41, or 1.9%,to $76.50
