Tyson Foods, Inc. (TSN) reported that its fourth-quarter adjusted earnings per share declined 29% from a year ago. Adjusted operating income was $823 million, down 29% from prior year. Tyson Foods noted that its productivity program, announced one year ago and designed to deliver more than $1 billion in recurring annual savings by the end of 2024, has accelerated ahead of schedule and is now expected to be achieved by the end of fiscal 2023.
Fourth quarter adjusted net income per share was $1.63 compared to $2.30, prior year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.73, for the quarter. Analysts' estimates typically exclude special items.
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