Meat company Tyson Foods (NYSE:TSN) will be reporting earnings tomorrow before market open. Here’s what investors should know.
Tyson Foods beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $13.62 billion, up 2.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Tyson Foods a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tyson Foods’s revenue to be flat year on year at $13.16 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.82 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 Q1 results, giving us a hint as to what we can expect. Pilgrim’s Pride delivered year-on-year revenue growth of 2.3%, missing analysts’ expectations by 1.6%, and Cal-Maine reported revenues up 102%, falling short of estimates by 0.8%. Pilgrim’s Pride traded down 14.4% following the results while Cal-Maine was up 2%.
Read our full analysis of Pilgrim’s Pride’s results here and Cal-Maine’s results here.
There has been positive sentiment among investors in the perishable food segment, with share prices up 3% on average over the last month. Tyson Foods is up 5.2% during the same time and is heading into earnings with an average analyst price target of $67.34 (compared to the current share price of $61.23).
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