Beef Business Helps Push Tyson Foods To Record Earnings In Fiscal 2017

Tyson Foods posted record per share earnings of $5.31 for fiscal year 2017 thanks in no small part to a 155% operating income increase in the company’s beef segment. Per share earnings for the fiscal year and fourth quarter beat the consensus estimates.

For the fiscal year ended Sept. 30, the Springdale-based global meat company posted revenue of $38.263 billion, better than the $36.881 in the previous fiscal year. Net income for the year was $1.774 billion, just ahead of the $1.768 billion in the previous fiscal year. Per share earnings of $5.31 beat the consensus estimate of $5.25.

Fourth quarter revenue was $10.145 billion, up 10.8% compared with the $9.156 billion in the fourth quarter of fiscal 2016. Net income in the quarter was $395 million, compared with $391 million in the fourth quarter of fiscal 2016. Per share earnings of $1.43 was 5 cents better than the consensus estimate of $1.38.     MORE

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