Tyson Foods (NYSE:TSN) reported fourth-quarter earnings of $1.21 per share on Tuesday, which missed the analyst consensus estimate of $1.29 by 6.2%... a 23.4% decrease over earnings of $1.58 per share from the same period last year.
The company reported quarterly sales of $10.88 billion, which missed the analyst consensus estimate of $11 billion by 1.09%. This is an 8.8% increase over sales of $9.999 billion the same period last year.
Tyson produces leading brands such as Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, and State Fair.
The company keeps expanding all the time. In June, TSN acquired the Thai and European operations of BRF S.A. The post-acquisition results from operations of these businesses are included in International/Other for segment presentation.
On November 30, 2018, TSN acquired Keystone Foods. The post-acquisition results from operations of this business are included in the company’s Chicken segment for Keystone's domestic operations and results for operations of Keystone's International business are included in International/Other for segment presentation.
Said CEO Noel White, "Fiscal 2019 was highlighted by significant progress in our strategy to grow our business through differentiated capabilities, deliver service and value to our customers, and sustain our company and our world for future generations."
For fiscal 2020, the U.S. Department of Agriculture indicates domestic protein production (beef, pork, chicken and turkey) should increase approximately 2-3% from fiscal 2019 levels, but the compnay expects export markets should absorb the increased production.
Shares leaped $3.27, or 4%, to $86.02
