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Tyson Foods
reported better-than-expected fiscal fourth-quarter earnings. However, the company's sales missed analysts' estimates.
The Springdale, Arkansas-based company posted quarterly net income of $137 million, or $0.35 per share, compared to $261 million, or $0.70 per share, in the year-ago quarter. Its adjusted earnings surged 24% to $0.87 per share.
Its sales rose to $10.105 billion from $8.894 billion. However, analysts were expecting earnings of $0.76 per share on revenue of $10.16 billion.
Adjusted operating income rose 13% to $469 million in the quarter.
Chicken adjusted operating income rose by $5 million in the quarter, while Prepared Foods adjusted operating income climbed by $64 million.
International adjusted operating income gained by $42 million in the fourth quarter, while other adjusted operating income climbed by $52 million.
"This is an exciting time as we integrate Hillshire Brands and Tyson Foods," Smith said, "and I believe that when we look back on this merger years from now, we'll see it as a watershed event. We're setting higher expectations and anticipating more growth and increased profitability, specifically in the Chicken and Prepared Foods segments. In the long-term, our Chicken segment should generate a 7-9% return on sales, although we expect fiscal
2015 to be particularly strong with a return of more than 10%.”
For fiscal 2015, Tyson projects earnings of $3.30 to $3.40 per share, versus analysts' estimates of $3.33 per share.
Tyson Foods shares climbed 4.97% to $42.68 in pre-market trading.
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