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Tyson Foods (NYSE: TSN ) stock was up on Monday after the release of its earnings report for its fiscal third quarter of 2018.
Source: Quinn Dombrowski via Flickr
Tyson Foods' earnings report for its fiscal third quarter of the year includes earnings per share of $1.50. This is an increase over its earnings per share of $1.28 from its fiscal third quarter of 2017. It was also good news for TSN stock by beating out Wall Street's earnings per share estimate of $1.46 for the period.
Net income reported by Tyson Foods in its fiscal third quarter of 2018 came in at $542 million. This is an increase over the company's net income of $448 million that was reported during the same time last year.
Tyson Foods also reported operating income of $802 million for its fiscal third quarter of the year. The food company's operating income from its fiscal third quarter of the previous year was $697 million.
During its fiscal third quarter of 2018, Tyson Foods reported revenue of $10.05 billion . This is better than the company's revenue of $9.85 billion that was reported in the same period of the year prior. However, it wasn't able to reach analysts' revenue estimate of $10.27 billion for the quarter, but that wasn't enough to keep TSN stock down today.
When it comes to fiscal 2018 guidance, Tyson Foods says that it is now expecting earnings per share to range from $5.70 to $6.00. Wall Street is looking for TSN to report earnings per share of $6.06 for its current fiscal year.
TSN stock was up 3% as of noon Monday, but is down 28% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The post Tyson Foods Shares Pop on Q3 Earnings Beat appeared first on InvestorPlace .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
