Tyson Foods Q4 Earnings Top Estimates

Tyson Foods Inc (NYSE:TSN) reported fourth-quarter FY21 sales growth of 11.8% year-on-year, to $12.81 billion, beating the analyst consensus of $12.66 billion.
Sales volume of Beef fell 15.4% Y/Y, Pork declined 17.7%, Chicken lost 5.9%, and Prepared Foods decreased 12.5%.
Gross profit increased 53.7% Y/Y to $2.5 billion, with a profit margin of 19.3%.
The operating margin was 14.9%, and operating income for the quarter rose 98.4% to $1.9 billion.
Adjusted EPS of $2.30 beat the analyst consensus of $2.03.
The company held $2.5 billion in cash and equivalents as of October 2, 2021. Cash provided by operating activities for the twelve months amounted to $3.8 billion.
"To foster continuous improvement and faster decision making, we're launching a new productivity program designed to deliver more than $1 billion in annual savings by the end of 2024," said Donnie King, president, and CEO of Tyson Foods.
Outlook: Tyson Foods expects FY21 sales of $49 billion - $51 billion, versus the consensus of $47.99 billion.
Price Action: TSN shares are trading higher by 0.93% at $81.98 on the last check Monday.