The Tyson Foods earnings report for its fiscal fourth quarter of 2018 was bad news for TSN stock today.
Tyson Foods’ (NYSE:TSN) most recent earnings report includes the company’s outlook for fiscal 2019. TSN says that it is expecting earnings per share for the year to range from $5.75 to $6.10. This puts it in the same range as the company’s earnings per share for fiscal 2018. It is also within Wall Street’s earnings per share estimate of $6.04 for the year, but the midpoint of that range is below estimates.
It isn’t just the company’s poor outlook for fiscal 2019 that is hurting TSN stock today. The Tyson Foods earnings report for its fiscal fourth quarter of the year also contains revenue of $10.00 billion. This is a drop from the company’s revenue of $10.15 billion from the same time last year. It also fails to reach Wall Street’s revenue estimate of $10.26 billion for the quarter.
The Tyson Foods earnings report for its fiscal fourth quarter of 2018 also has earnings per share coming in at $1.58. This is better than the company’s earnings per share of $1.43 from its fiscal fourth quarter of 2017. It also beat out analysts’ earnings per share estimate of $1.35 for the period, but wasn’t enough to save TSN stock today.
Net income reported in the Tyson Foods earnings report for its fiscal fourth quarter of the year came in at $537 million. This is an increase over the company’s net income of $394 million from the same period of the year prior.
TSN stock was down 6% as of Tuesday afternoon and is down 23% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
