Tyson Foods Reports 'Volatile and Uncertain' Third Quarter, Beats on EPS
Major meatpacking and processing company Tyson Foods (NYSE: TSN) reported its fiscal third-quarter 2020 results this morning before market open, outpacing analyst expectations on some metrics while missing on others. A standout beat from the report came in the form of adjusted earnings per share (EPS) of $1.40. With analyst consensus setting adjusted EPS at $0.90, the food giant delivered a 55% positive earnings surprise.
Tyson's revenue (sales) came in at $10.02 billion, $540 million short of analyst predictions of $10.56 billion. This represents a negative surprise of 5.4%. The company still had $3.1 billion in liquidity available as of June 27.
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Source Fool.com
