Tyson Foods (NYSE:TSN) earnings for the food company’s fiscal first quarter of 2020 have TSN stock falling on Thursday. This is despite its adjusted earnings per share of $1.66 beating out Wall Street’s estimate of $1.65. The problem comes from revenue of $10.82 billion. That doesn’t reach analysts’ estimates of $11.04 billion.
Here’s what else is worth mentioning about the Tyson Foods earnings report.
- Adjusted EPS for the quarter comes in 5.06% higher than the $1.58 from the same time last year.
- Revenue for the quarter is sitting 6.18% higher than $10.19 billion from the fiscal first quarter of 2019.
- Operating income of $826 million is 2.35% increase YoY from $807 million.
- The Tyson Foods earnings report also has its net income coming in at $561 million.
- This is a 1.63% boost over the company’s net income of $552 million from the same period of the year prior.
Noel White, Chief Executive Officer of Tyson Foods, has this to say about the TSN stock earnings report.
“Our overall results in the first quarter of fiscal 2020 were in line with expectations. With improved access to global markets resulting from recent trade developments, there are reasons to be optimistic about fiscal 2020 and beyond and we are well-positioned to capitalize on opportunities in the global marketplace.”
The Tyson Foods earnings report also includes an update on what it expects in 2020. That includes possible challenges and volatility during the second quarter that are normal for the company. Despite this, it still has a positive long-term outlook.
TSN stock was down 3.84% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.