“Results: Net income for Tyson Foods Inc. rose to $185 million (51 cents per share
) vs. $97 million (26 cents per share) in the same quarter a year earlier. This marks a rise of 90.7% from the year-earlier quarter.
Revenue: Fell 0.4% to $8.37 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tyson Foods Inc. reported adjusted net income of 55 cents per share. By that measure, the company beat the mean estimate of 43 cents per share.Analysts were expecting revenue of $8.49 billion.
Quoting Management: “Our earnings for the fourth quarter and fiscal year indicate that Tyson Foods is rising above the noise of commodity markets to produce solid, more consistent results,” said Donnie Smith, Tyson’s president and chief executive officer. “It has taken us several years and a lot of work to get to this point, and although there is much more to be done, I believe we have reached a new level of sustainable performance
.”
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