SPY414.92-5.67 -1.35%
DIA332.96-5.20 -1.54%
IXIC14,030.38-130.97 -0.92%

Tyson Foods Posts Higher Fiscal Q2 Earnings, Sales; Improves Fiscal 2021 Revenue Outlook

05/10/2021 03:50

07:50 AM EDT, 05/10/2021 (MT Newswires) -- Tyson Foods (TSN) reported fiscal Q2 adjusted earnings Monday of $1.34 per share, up from $0.80 per share a year earlier.

Analysts polled by Capital IQ projected adjusted EPS of $1.13.

Sales were $11.3 billion for the quarter ended April 3, up from $10.89 billion a year ago. The Street forecast was $11.19 billion.

During the quarter, the company said it incurred direct incremental expenses of about $95 million associated with the impact of COVID-19, which primarily included costs related to COVID-19 testing, facility sanitization and personal protective equipment. The company said it expects to incur about $365 million of these direct incremental expenses in connection with the ongoing pandemic for fiscal 2021.

Meanwhile, revenue for fiscal 2021 is projected to be about $44 billion to $46 billion, compared with the previous outlook range of $42 billion to $44 billion. Analysts polled by Capital IQ projected revenue of $44.0 billion.

Price: 79.50, Change: +0.68, Percent Change: +0.86