Tyson Foods, Inc.TSN came out with second-quarter fiscal 2018 results, wherein adjusted earnings of $1.27 per share lagged the Zacks Consensus Estimate of $1.32 but surged 25.7% year over year.
The company expects adjusted earnings for fiscal 2018 in a range of $6.55-$6.70 per share, reflecting a 23-26% growth year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has trended downward over the past seven days. Further, if we look at Tyson Foods' performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 4.7%.
Tyson Foods, Inc. Price, Consensus and EPS Surprise
Revenues: Tyson generated net sales of $9,773 million that advanced 7.6% year over year but came below the Zacks Consensus Estimate of $9,944 million. Sales were driven by volume growth in most segments. The company expects fiscal 2018 sales to rise nearly 6% in the band of $40-$41 billion.
Zacks Rank: Currently, Tyson Foods carries a Zacks Rank #3 (Hold), which is subject to change following the just released earnings results. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Stock Movement: Tyson Foods' shares are up 3.3% during pre-market trading following the earnings release.
Check back later for our full write up on Tyson Foods' earnings report!
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