We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Tyson Foods (TSN) is Slumping 15% Today
Read MoreHide Full Article
On Monday, shares of chicken industry giant Tyson Foods Inc. (TSN - Free Report) are slumping, down over 15% in morning trading after the company reported disappointing fourth quarter fiscal 2016 financial results.
Tyson reported adjusted earnings per share of 96 cents, lagging behind the Zacks Consensus Estimate of $1.24 (this number excludes 7 cents from non-recurring items). Revenues came in at $9.16 billion, also missing our consensus estimate of $9.31 billion and decreasing 12.8% year-over-year.
Operating income grew 31% to more than $568 million, while adjusted operating income increased 3% from the year ago period.
In fiscal 2016, Tyson posted record company operating margin of 7.7%. Pork segment operating margin came in at 10.8%, Prepared Foods segment operating margin came in at 10%, and Chicken segment operating margin “remain strong” at 11.9%.
The company announced that its Chief Executive, Donnie Smith, is leaving, and being replaced by current President Tom Hayes. Mr. Hayes, who will also keep the role of president, previously oversaw all of Tyson’s North American sales as chief commercial officer.
“Tom Hayes is a proven leader who has played an important role in creating today’s Tyson Foods and driving growth across our company,” said John Tyson, Chairman of the Board of Directors. “The Board’s decision to name Tom CEO at this time was based on both his track record and how his skills align with the company’s strategic direction and continuing evolution.”
Looking ahead, Tyson expects fiscal 2017 earnings per share in the range of $4.70 to $4.85, well below the analyst estimate of $4.98 per share. GAAP EPS is forecasted to grow 4-7%, while adjusted EPS should see growth of 7-10%.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why Tyson Foods (TSN) is Slumping 15% Today
On Monday, shares of chicken industry giant Tyson Foods Inc. (TSN - Free Report) are slumping, down over 15% in morning trading after the company reported disappointing fourth quarter fiscal 2016 financial results.
Tyson reported adjusted earnings per share of 96 cents, lagging behind the Zacks Consensus Estimate of $1.24 (this number excludes 7 cents from non-recurring items). Revenues came in at $9.16 billion, also missing our consensus estimate of $9.31 billion and decreasing 12.8% year-over-year.
Operating income grew 31% to more than $568 million, while adjusted operating income increased 3% from the year ago period.
In fiscal 2016, Tyson posted record company operating margin of 7.7%. Pork segment operating margin came in at 10.8%, Prepared Foods segment operating margin came in at 10%, and Chicken segment operating margin “remain strong” at 11.9%.
The company announced that its Chief Executive, Donnie Smith, is leaving, and being replaced by current President Tom Hayes. Mr. Hayes, who will also keep the role of president, previously oversaw all of Tyson’s North American sales as chief commercial officer.
“Tom Hayes is a proven leader who has played an important role in creating today’s Tyson Foods and driving growth across our company,” said John Tyson, Chairman of the Board of Directors. “The Board’s decision to name Tom CEO at this time was based on both his track record and how his skills align with the company’s strategic direction and continuing evolution.”
Looking ahead, Tyson expects fiscal 2017 earnings per share in the range of $4.70 to $4.85, well below the analyst estimate of $4.98 per share. GAAP EPS is forecasted to grow 4-7%, while adjusted EPS should see growth of 7-10%.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>