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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Tyson Adjusts Guidance

09/08/2019

Tyson Foods is revising fiscal 2019 guidance to a range of $5.30 to $5.70 per share from the previous range of $5.75 to $6.10. This change reflects “margin compression related to a reversal of a gain on mark-to-market grain derivatives recognized in our third quarter.”  In addition the company cites commodity market volatility (mostly down!) enhance food safety initiatives, a fire in a major beef processing plant and slower than expected operational improvements in the Chicken Segment.

 

Noel White president and CEO stated, “The discrete challenges we have encountered this quarter now lead us to believe we will fall short of previously stated guidance.”  He added, “Our outlook for 2020 remains positive as we believe that some of the challenges we are experiencing are not expected to repeat and we are anticipating more favorable market conditions.”

 

The statement resulted in a decline in TSN share value from $93.31 at close of trading on Tuesday 3rd September to $88.50 on market open on Wednesday 4th September. TSN finished the week at $86.02 on a rising market.

 


 
Copyright 2019 Simon M. Shane