Tyson Blames Tariffs, Excess Meat Supply For Lower Earnings Guidance

Tyson Foods was flying high on hopes for a record year of earnings with low grain costs and growing market share among its largest brands. But escalating trade tensions and tariffs on beef and pork have resulted in an excess supply of meat and falling prices.

On Monday, the Springdale-based meat giant lowered its full-year earnings guidance by 85 cents on the low-end and 70 cents on the high-end. The downward guidance comes one week before the company reports its third quarter earnings results on August 6th.

The company expects fiscal 2018 earnings of $5.70-$6 per share, down from the $6.55-$6.70 previous guidance last given in May. The company did not give guidance for the third quarter, but said the fourth fiscal quarter, which began July 1, is off to a sluggish start.    MORE

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