Tyson Foods Posts Downbeat Q4 Earnings, But Sales Beat Views

reported weaker-than-expected earnings for its fiscal fourth quarter, but the company's sales exceeded analysts' estimates. The Springdale, Arkansas-based company reported quarterly net income of $258 million, or $0.63 per share, compared to $137 million, or $0.35 per share, in the year-ago quarter. Excluding items, the company's adjusted earnings came in at $0.83 per share. Its sales rose to $10.51 billion from $10.11 billion. However, analysts were expecting earnings of $0.88 per share on revenue of $10.34 billion. The average estimate among 25 Estimize users was for earnings of $0.90 per share and revenue of $9.81 billion. Its operating income surged to $550 million from $306 million. During the quarter, the company repurchased 5.9 million shares for $250 million. "Fiscal 2015 was an important year for Tyson Foods, because it proved that our house of brands gives us the ability to produce record sales and earnings in less than optimum conditions, all while successfully merging two large companies," said Donnie Smith, president and chief executive officer of Tyson Foods, Inc. Tyson Foods now projects FY16 adjusted earnings of $3.50 to $3.65 per share, versus analysts' estimates of $3.53 per share. Tyson Foods shares fell 1.79 percent to close at $43.67 on Friday.