Tyson Foods beats profit estimates on cost control efforts, sales slip [Yahoo! Finance Canada]
Tyson Foods, Inc. (TSN)
Last tyson foods, inc. earnings: 2/6 07:30 am
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US:NYSE Investor Relations:
ir.tyson.com/investor-relations/default.aspx
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Source: Yahoo! Finance Canada
Shares of the Springdale, Arkansas-based company rose 3.5% in premarket trade, after gaining more than 15% for the year so far. The biggest U.S. meat company by sales has shuttered six U.S. chicken plants since the start of last year, laid off corporate employees and announced plans to close a pork plant, in an attempt to rein in costs. That helped it post adjusted earnings of 62 cents per share for the second quarter, compared with analysts' average estimate of 39 cents, based on LSEG data. ADVERTISEMENT However, it has been grappling with slowing demand over the last few quarters as price-conscious customers cut back on expensive purchases and look for affordable options amid still-high food prices and borrowing costs. Tyson's second-quarter net sales fell 0.5% to $13.07 billion, compared with estimates of $13.16 billion. Sales in the chicken segment, which struggled with excess supply during 2023, were down 8.3% in the quarter even though prices fell 2.1%. Volumes drop
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TSN
Earnings
- 5/6/24 - Beat
TSN
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/14/24 - Form 4
- TSN's page on the SEC website