Tyson Foods Slips To Loss In Q4; Guides FY24 Sales Below Estimates

(RTTNews) - Tyson Foods, Inc. (TSN) reported Monday a net loss attributable to the company for the fourth quarter of $450 million or $1.31 per share, compared to net income of $538 million or $1.50 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.37 per share, compared to $1.63 per share in the year-ago quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter decreased 2.8 percent to $13.35 billion from $13.74 billion in the same quarter last year. Analysts expected revenue of $13.73 billion for the quarter.

Looking ahead to fiscal 2024, the company sales to be relatively flat in fiscal 2024 as compared to fiscal 2023 sales of $53.88 billion. The Street is looking for revenues of $54.42 billion for the year.

The company also expects capital expenditures between $1.0 billion and $1.5 billion for fiscal 2024.

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