Meat company Tyson Foods (NYSE: TSN) will be announcing earnings results this Monday morning. Here’s what you need to know.
Tyson Foods beat analysts’ revenue expectations last quarter, reporting revenues of $13.65 billion, up 4.4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ gross margin estimates.
Is Tyson Foods a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tyson Foods’s revenue to be flat year on year, slowing from the 3.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tyson Foods has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Tyson Foods’s peers in the perishable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Del Monte Corporation delivered year-on-year revenue growth of 3.1%, missing analysts’ expectations by 6.6%, and Pilgrim's Pride reported a revenue decline of 2.8%, falling short of estimates by 1.6%. Del Monte Corporation traded up 2.7% following the results while Pilgrim's Pride was down 2%.
Read our full analysis of Del Monte Corporation’s results here and Pilgrim's Pride’s results here.
Investors in the perishable food segment have had steady hands going into earnings, with share prices flat over the last month. Tyson Foods is down 1.8% during the same time and is heading into earnings with an average analyst price target of $68.50 (compared to the current share price of $57.50).
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