Tyson Foods Boosts FY22 Sales Outlook As Q2 Results Top Estimates

Tyson Foods, Inc. (TSN) reported Monday that its second-quarter net Income attributable to the company surged to $829 million or $2.28 per share from $476 million or $1.30 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $2.29 per share, compared to $1.34 per share in the year-ago quarter. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.91 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $13.12 billion from $11.30 billion in the same quarter last year. Analysts expected revenue of $12.85 billion for the quarter.

Looking ahead to fiscal 2022, the company now projects sales in a range of $52 billion to $54 billion, up from the prior forecast range of $49 billion to $51 billion. The Street is looking for revenues of $51.79 billion for the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design. Generative artificial intelligence or AI technologies, including the highly popular ChatGPT, could expose around 300 million full-time jobs around the world to automation, a report by Goldman Sachs predicts, deepening the rising fears about job security. According to a new research report by GS economists, "The Potentially Large Effects of Artificial Intelligence on Economic Growth",.. UBS Group AG has called back its former Chief Executive Officer Sergio Ermotti to lead the Swiss banking giant amid the new challenges and priorities it faces following its planned acquisition of troubled domestic rival Credit Suisse Group AG. Following the news, UBS shares were gaining more than 2 percent in Swiss trading as well as in pre-market activity on the NYSE.
Follow RTT