Tyson Foods Fiscal Q3 Results Beat

Tyson Foods reported early Monday a fiscal Q3 adjusted earnings of $1.28 per diluted share compared with income of $1.21 per share a year ago, beating the $1.20 average EPS estimate from analysts polled by Capital IQ.
Total revenue during the three months that ended July 1 rose to $9.85 billion from $9.40 million a year ago, coming in above the $9.49-billion consensus.

Stating its full-year fiscal 2017 guidance, the company said EPS is expected to remain between $4.95 and $5.05, which is a 13% jump from adjusted EPS of fiscal 2016 and in-line with the Street’s forecast of $5.01. “We’re seeing even greater potential for leveraging our complementary businesses for efficiency,” CEO Tom Hayes said. “Given the early success of our integration efforts, we now anticipate cumulative net synergies exceeding $200 million within three years.”

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