What to expect when Tyson Foods (TSN) reports Q4 2023 earnings
Shares of Tyson Foods, Inc. (NYSE: TSN) were lanugo 1% on Wednesday. The stock has dropped 25% year-to-date. The supplies visitor is scheduled to report its fourth quarter 2023 earnings results on Monday, November 13, surpassing markets open. Here’s a squint at what to expect from the earnings report:
Revenue
Analysts are projecting revenues of $13.73 billion for Q4 2023, which is unappetizing compared to the same period a year ago. In the third quarter of 2023, sales decreased 3% year-over-year to $13.1 billion.
Earnings
The consensus estimate for Q4 2023 EPS is $0.29, which compares to EPS of $1.63 reported in the prior-year quarter. In Q3 2023, adjusted EPS decreased 92% YoY to $0.15.
Points to note
Tyson saw sales and adjusted earnings ripen in the third quarter. The visitor continues to struggle with lower pricing and upper input costs. Last quarter’s sales ripen was caused by a reduction in price per pound in pork and yellow while lower profitability in the whinge and yellow segments impacted operating profits.
The visitor has been facing a challenging environment with low thingamabob prices in chicken, as well as supply pressures and upper feed financing in pork and beef. Headwinds in the pork and whinge segments are expected to protract due to tight supply and upper costs.
The prepared foods segment appears to be performing relatively better. Although sales declined in the third quarter due to volume declines in the foodservice waterworks and lower pricing caused by lower salary prices, the visitor saw unfurled growth in the retail channel. This segment moreover saw strong margin growth while margins in other segments declined. Tyson’s overall margins remain pressured and this is likely to persist in the fourth quarter as well.
Tyson Food varieties (TSN) posted surprisingly good final quarter profit Monday yet gauge quieted entire year deals in the midst of a proceeding with stoppage in U.S. meat interest.
Tyson Food varieties said changed profit for the three months finished in October, the gathering's financial final quarter, were fixed at 37 pennies an offer, down 77% from a similar period last year however a very short ways off of the Money Road agreement estimate of 29 pennies share.
Bunch income fell 2.8% to $13.35 billion, missing examiners' figure of a $13.71 billion count. Meat deals were down 6.7% to $5.03 billion, Tyson said, while chicken deals rose 1.7% to $4.155 billion and pork deals slipped 0.2% to $1.494 billion.
Investigating the approaching monetary year, Tyson Food varieties sees income of around $52.8 billion, level to 2023 levels yet lower than the Money Road gauge of around $54.4 billion.
"While monetary headwinds continue, we are moving in the correct bearing and overseeing what we have some control over," said CEO Donnie Ruler. "The choices we have taken have made us all the more functionally proficient and supported a second quarter of successive improvement in changed working pay."