Stock Story -
Meat company Tyson Foods (NYSE:TSN) will be announcing earnings results tomorrow morning. Here's what to look for.
Tyson Foods met analysts' revenue expectations last quarter, reporting revenues of $13.07 billion, flat year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Tyson Foods a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Tyson Foods's revenue to be flat year on year at $13.21 billion, improving from the 2.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.67 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tyson Foods has missed Wall Street's revenue estimates five times over the last two years.
Looking at Tyson Foods's peers in the perishable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pilgrim's Pride delivered year-on-year revenue growth of 5.8%, missing analysts' expectations by 1.4%, and Cal-Maine reported a revenue decline of 7%, falling short of estimates by 1.8%. Pilgrim's Pride traded up 2.3% following the results while Cal-Maine was also up 3.1%.
Read the full analysis of Pilgrim's Pride's and Cal-Maine's results on StockStory.
There has been positive sentiment among investors in the perishable food segment, with share prices up 4% on average over the last month. Tyson Foods is up 7.6% during the same time and is heading into earnings with an average analyst price target of $62.5 (compared to the current share price of $61).
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