{"id":170613,"date":"2023-02-06T17:26:04","date_gmt":"2023-02-06T17:26:04","guid":{"rendered":"https:\/\/precoinnews.com\/?p=170613"},"modified":"2023-02-06T17:26:04","modified_gmt":"2023-02-06T17:26:04","slug":"tyson-foods-falls-6-on-earnings-decline-below-estimates","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/tyson-foods-falls-6-on-earnings-decline-below-estimates\/","title":{"rendered":"Tyson Foods Falls 6% On Earnings Decline, Below Estimates"},"content":{"rendered":"
Shares of Tyson Foods, Inc. (TSN) are falling more than 5% Monday morning after the company’s first-quarter results missed analysts’ view. <\/p>\n
Profit in the first quarter declined to $316 million or $0.88 per share from $1.121 billion or $3.07 per share in the same quarter a year ago, due primarily to higher expenses.<\/p>\n
Excluding one-time items, earnings were $0.85 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $1.36 per share.<\/p>\n
Quarterly sales, however, increased to $13.26 billion from $12.933 billion last year. Analysts were expecting sales of $13.52 billion.<\/p>\n
Looking forward to the full year, the company expects sales to be in the range of $55 billion to $57 billion. The consensus estimate stands at $55.13 billion.<\/p>\n
TSN, currently at $60.17, has traded in the range of $59.38-$100.72 in the last 1 year. <\/p>\n