Tyson Foods Q2 Profit Tops Estimates; Issues FY24 Outlook - Update

(RTTNews) - Tyson Foods (TSN) reported second quarter net income to company of $145 million compared to a loss of $97 million, prior year. Net income per share was $0.41 compared to a loss of $0.28. Adjusted operating income was $406 million, up 525% from prior year. Adjusted net income per share to Tyson was $0.62 compared to a loss of $0.04. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.39, for the quarter. Analysts' estimates typically exclude special items.

Sales were $13.07 billion, down 0.5% from prior year. Analysts on average had estimated $13.16 billion in revenue.

Tyson Foods anticipates total company adjusted operating income of $1.4 billion to $1.8 billion for fiscal 2024. The company expects sales to be relatively flat in fiscal 2024 as compared to fiscal 2023.

Shares of Tyson Foods are up 1% in pre-market trade on Monday.

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