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Tyson Foods (TSN) Q3 Earnings in the Cards: Things to Note
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Tyson Foods, Inc. (TSN - Free Report) is likely to register top- and bottom-line growth when it reports third-quarter fiscal 2024 earnings on Aug 5. The Zacks Consensus Estimate for revenues is pegged at $13.2 billion, suggesting an increase of 0.2% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has moved up by a penny in the past 30 days to 61 cents per share. The projection indicates significant growth from 15 cents reported in the year-ago quarter. TSN has a trailing four-quarter earnings surprise of 24.4%, on average.
Things To Note
The company is leveraging its multi-protein portfolio of well-known brands amid rising global protein demand. Management’s focus on brand building and innovations continues to yield. The company is benefiting from operational enhancements while making incremental improvements in yield and live operations. Ongoing productivity initiatives based on procurement, logistics and digitalization continue to solidify its fundamentals. The continuation of these trends is likely to have benefited TSN’s performance in third-quarter fiscal 2024.
However, the company is not immune to macroeconomic headwinds. The uncertainty related to consumer behavior, coupled with the unpredictable progression of the cattle cycle and fluctuating commodity costs, cast shadows of doubt on its performance. Adding to the complexity are seasonal trends in pork and prepared foods, further complicating matters. These aspects suggest potential challenges for the quarter under review.
Our proven model doesn’t conclusively predict an earnings beat for Tyson Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Tyson Foods carries a Zacks Rank #3 and has an Earnings ESP of -3.80%.
Some Stocks With the Favorable Combination
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
International Flavors & Fragrances Inc. (IFF - Free Report) currently has an Earnings ESP of +21.04% and a Zacks Rank of 2. The company is likely to register a decline in the top line and an increase in the bottom line when it reports second-quarter 2024 numbers. The Zacks Consensus Estimate for International Flavors’ quarterly revenues is pegged at $2.8 billion, which indicates a decline of 3.6% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for International Flavors’ quarterly earnings of 91 cents suggests an increase of 5.8% from the year-ago quarter’s levels. IFF has a trailing four-quarter earnings surprise of 6.45%, on average.
Clorox (CLX - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The company is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.97 billion, calling for a decline of 2.4% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Clorox’s quarterly earnings of $1.54 suggests a drop of 7.8% from the year-ago quarter’s levels. However, CLX has a trailing four-quarter earnings surprise of 128.5%, on average.
Coty (COTY - Free Report) has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly earnings has remained unchanged in the past 30 days at 5 cents. The consensus mark for earnings calls for a 400% surge from the figure reported in the year-ago quarter.
The consensus estimate for quarterly revenues is pegged at $1.38 billion, indicating a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.
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Tyson Foods (TSN) Q3 Earnings in the Cards: Things to Note
Tyson Foods, Inc. (TSN - Free Report) is likely to register top- and bottom-line growth when it reports third-quarter fiscal 2024 earnings on Aug 5. The Zacks Consensus Estimate for revenues is pegged at $13.2 billion, suggesting an increase of 0.2% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has moved up by a penny in the past 30 days to 61 cents per share. The projection indicates significant growth from 15 cents reported in the year-ago quarter. TSN has a trailing four-quarter earnings surprise of 24.4%, on average.
Things To Note
The company is leveraging its multi-protein portfolio of well-known brands amid rising global protein demand. Management’s focus on brand building and innovations continues to yield. The company is benefiting from operational enhancements while making incremental improvements in yield and live operations. Ongoing productivity initiatives based on procurement, logistics and digitalization continue to solidify its fundamentals. The continuation of these trends is likely to have benefited TSN’s performance in third-quarter fiscal 2024.
However, the company is not immune to macroeconomic headwinds. The uncertainty related to consumer behavior, coupled with the unpredictable progression of the cattle cycle and fluctuating commodity costs, cast shadows of doubt on its performance. Adding to the complexity are seasonal trends in pork and prepared foods, further complicating matters. These aspects suggest potential challenges for the quarter under review.
Tyson Foods, Inc. Price and EPS Surprise
Tyson Foods, Inc. price-eps-surprise | Tyson Foods, Inc. Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Tyson Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Tyson Foods carries a Zacks Rank #3 and has an Earnings ESP of -3.80%.
Some Stocks With the Favorable Combination
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
International Flavors & Fragrances Inc. (IFF - Free Report) currently has an Earnings ESP of +21.04% and a Zacks Rank of 2. The company is likely to register a decline in the top line and an increase in the bottom line when it reports second-quarter 2024 numbers. The Zacks Consensus Estimate for International Flavors’ quarterly revenues is pegged at $2.8 billion, which indicates a decline of 3.6% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for International Flavors’ quarterly earnings of 91 cents suggests an increase of 5.8% from the year-ago quarter’s levels. IFF has a trailing four-quarter earnings surprise of 6.45%, on average.
Clorox (CLX - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The company is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.97 billion, calling for a decline of 2.4% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Clorox’s quarterly earnings of $1.54 suggests a drop of 7.8% from the year-ago quarter’s levels. However, CLX has a trailing four-quarter earnings surprise of 128.5%, on average.
Coty (COTY - Free Report) has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly earnings has remained unchanged in the past 30 days at 5 cents. The consensus mark for earnings calls for a 400% surge from the figure reported in the year-ago quarter.
The consensus estimate for quarterly revenues is pegged at $1.38 billion, indicating a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.