Tyson Foods, Inc. (TSN - Free Report) came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.43 per share came much ahead of the Zacks Consensus Estimate of $1.38 and surged 49% year-over-year.
The company expects adjusted earnings for fiscal 2018 in a range of $5.70-$5.85 per share, reflecting a 7-10% growth year-over-year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has trended upward over the past 30 days. Further, if we look at Tyson’s performance in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 0.5%.
Revenues: Tyson generated net sales of $10,145 million that advanced 10.8% year over year and also topped the Zacks Consensus Estimate of $9,951 million. Sales were driven by volume growth in most segments. The company expects fiscal 2018 sales to advance nearly 7% to $41 billion.
Key Events: On Nov 10, Tyson Foods raised its quarterly dividend per share to 30 cents on its Class A shares and 27 cents on its Class B shares. This is payable on Dec 15, 2017 to shareholders of record as on Dec 1.
Zacks Rank: Currently, Tyson Foods carries a Zacks Rank #1 (Strong Buy) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: Tyson Foods’ shares are up over 4% during pre-market trading hours following the earnings release.
Check back later for our full write up on Tyson Foods’ earnings report!
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