Tyson Foods to report earnings tomorrow: Here is what to expect
Meat company Tyson Foods (NYSE:TSN) will be announcing earnings results this Monday before the bell. Here’s what to look for.
Tyson Foods missed analysts’ revenue expectations last quarter, reporting revenues of $13.87 billion, flat year on year. It was a softer quarter for the company, with a significant miss of analysts’ gross margin estimates.
Is Tyson Foods a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tyson Foods’s revenue to grow 2.6% year on year, in line with the 2.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tyson Foods has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Tyson Foods’s peers in the perishable food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Freshpet delivered year-on-year revenue growth of 10%, beating analysts’ expectations by 1.3%, and Beyond Meat reported a revenue decline of 8.1%, topping estimates by 0.8%. Freshpet traded down 6.9% following the results while Beyond Meat was also down 15.2%.
Read our full analysis of Freshpet’s results here and Beyond Meat’s results here.
There has been positive sentiment among investors in the perishable food segment, with share prices up 4.4% on average over the last month. Tyson Foods is up 7.1% during the same time and is heading into earnings with an average analyst price target of $63 (compared to the current share price of $58.70).
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