Tyson Foods (TSN) Misses Q2 EPS by 5c, Miss on Revenues; Offers In-Line FY18 EPS Guidance
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EPS Growth %: +1,025.0%
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Tyson Foods (NYSE: TSN) reported Q2 EPS of $1.27, $0.05 worse than the analyst estimate of $1.32. Revenue for the quarter came in at $9.77 billion versus the consensus estimate of $9.83 billion.
First Six Months Highlights
- Record GAAP EPS of $5.25, up 109% from last year; Record Adjusted EPS of $3.08, up 18% from last year
- GAAP operating income of $1,425 million, down 8% from last year; Record Adjusted operating income of $1,644 million up 2% from last year
- Total Company GAAP operating margin of 7.1%; Adjusted operating margin of 8.2%
- Realized $102 million of Financial Fitness Program cost savings
Second Quarter Highlights
- GAAP EPS of $0.85, down 8% from last year; Adjusted EPS of $1.27, up 26% from last year
- GAAP operating income of $498 million, down 13% from last year; Adjusted operating income of $694 million, up 11% from last year
- Realized $65 million of Financial Fitness Program cost savings
Tax Reform Impact
Lower enacted tax rates positively impacted the second quarter and six months Adjusted EPS by $0.17 and $0.38, respectively, and we expect a fiscal 2018 benefit of approximately $0.85 on an adjusted basis
Guidance
Including the benefit of lower enacted tax rates, Adjusted1 EPS guidance for fiscal 2018 is $6.55-$6.70, which represents an approximate 23-26% increase from fiscal 2017 Adjusted EPS
GUIDANCE:
Tyson Foods sees FY2018 EPS of $6.55-$6.70, versus the consensus of $6.62.
For earnings history and earnings-related data on Tyson Foods (TSN) click here.
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