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Tyson Foods tops Q3 expectations, narrows full-year forecast

Published 08/07/2017, 03:06 PM
© Reuters. Tyson Foods tops Q3 expectations, narrows full-year forecast
TSN
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Investing.com -Tyson Foods Inc (NYSE:TSN)shares were climbing on Monday, boosted by the company's latest results, for the third quarter which beat analysts' estimates.

The company posted Q3 adjusted earnings of $1.28 per share on revenue of $9.85 billion, above earnings of $1.18 per share on revenue of $9.48 billion analysts were expecting. Tyson Foods also narrowed its full-year outlook and said it now expects FY17 adjusted earnings of $4.95 to $5.05 per share, versus the earlier forecast of $4.90 to $5.05 per share.

The company said increased exports helped its recent results, as did higher prices for beef, pork, and chicken. The company completed the $4.2-billion acquisition of AdvancePierre Foods in June. This acquisition will boost the company's prepared foods and chicken segments.

Tyson Foods' shares were up 5.6% on the approach to the closing bell.

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