Tyson Foods Q4 Results Miss View, But Sees Earnings Growth In 2020; Stock Down

(RTTNews) - Tyson Foods Inc. (TSN) reported that its fourth-quarter net Income attributable to the company declined to $369 million from $537 million last year. Earning per share for the fourth-quarter were $1.01, down 31% from prior year.

"We're very optimistic about fiscal 2020, and we currently expect to meet or exceed our long-term earnings algorithm of high single-digit adjusted earnings per share growth as we're well positioned to take advantage of opportunities in the global marketplace," the company said.

Adjusted earnings per share the fourth-quarter were $1.21, down 23% from prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.29 per share. Analysts' estimates typically exclude special items.

Sales for the quarter grew to $10.88 billion from $9.999 billion last year. Analysts expected revenue of $11.00 billion for the quarter.

In Tuesday pre-Market trade, TSN is trading at $79.01, down $3.75 or 4.53 percent.