Tyson Foods up 3% on Strong Q1 Earnings

Tyson Foods

is trading higher on the session following its Q2 earnings announcement this morning. The company reported an EPS of $0.44 vs $0.38 estimates and revenues of $8.27 billion vs $8.49 billion estimates. Donnie Smith, Tyson's president and chief executive officer stated: "Our multi-protein business again proved advantageous, producing solid earnings for the fiscal second quarter. We were pleased with the rate of improvement in our Chicken business. The Chicken, Pork and Prepared Foods segments all were in or above their normalized operating margin ranges, while Beef essentially broke even despite extremely challenging market conditions." Tyson Foods is currently trading at $18.62, a gain of $0.58 or 3.22%.