Tyson Foods (TSN) Earnings Beat Street View Handily
Tyson Foods (NYSE: TSN) reported its Q1 EPS at $0.42, as compared to the consensus of $0.18. TSN’s revenues for the quarter came in at $6.63 billion, beating the Street view of $6.58 billion. The company’s results were impressive in the light of losses of $0.27 per share recorded last year.
Donnie Smith, Tyson Foods' president and chief executive officer, said, "Beef, Pork and Prepared Foods continued to execute well, and Chicken began to show the improvement we've been working toward for more than a year.” All operating segments of TSN were profitable during the quarter and the company managed to reduce its total debt, net of cash and restricted cash by $400 million.
Following the impressive results, TSN’s shares jumped 4.43% to $14.61 in pre-market trading.
