by Kim Souza (ksouza@talkbusiness.net)

Springdale-based Tyson Foods is expected to report a 65% decline in net earnings per share for the second quarter ending March 31. The consensus estimate is $285.68 million in net income on higher revenue of $13.62 billion, an annual gain of 3.8%.

The meat giant will report fiscal second-quarter earnings on May 8. Some analysts recently raised their earnings guidance for Tyson Foods based on better-than-expected performance in the company’s beef and prepared foods segment. That said, none of the segments are expected to outperform the year-ago period, with the exception of a small gain in the company’s international division.

Tyson’s chicken business continues to struggle, though margins have likely improved during the recent quarter. according to Ben Bienvenu, an analyst with Stephens Inc. He said margins would likely remain under pressure given elevated grain costs that should abate later in the year. Chicken prices also remain amid higher production and weaker consumer demand.

https://talkbusiness.net/2023/05/tyson-foods-expected-to-report-65-earnings-decline/