Stephens Reiterates Overweight Rating on Tyson (TSN)
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Tyson Foods Experiencing Short-term Challenges in Fiscal Fourth Quarter
September 3, 2019 4:15 PM EDTSPRINGDALE, Ark., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE: TSN) today said it is experiencing short-term challenges that are negatively affecting fourth quarter earnings. These challenges include margin compression related to a reversal of a gain on mark to market grain derivatives recognized in our third quarter, commodity market volatility, implementation of enhanced food safety initiatives, a beef processing plant fire, and slower than expected operational improvements in the Chicken segment. As a result, the company is revising its fiscal 2019 adjusted1 earnings guidance to a range of $5.30 to $5.70 per share and we continue to... More
