LONDON, UK / ACCESSWIRE / March 09, 2018 / Active-Investors.com has just released a free earnings report on Tyson Foods, Inc. (NYSE: TSN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TSN. On February 08, 2018, Tyson Foods reported financial results for the first quarter of 2018 ending December 30, 2017. The Company first quarter performance marked a strong start to 2018 with record adjusted EPS and strong operating cash flows. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Tyson Foods' total revenues for the first quarter of 2018 (Q1 FY18) reached $10.23 billion, an increase of 11.40% from $9.18 billion in Q1 FY17. The reported revenue number exceeded analysts' consensus estimates of $9.89 billion.
Tyson Foods' cost of sales jumped 14.02% to $8.78 billion in Q1 FY18 from $7.7 billion in Q1 FY17. The Company's gross profit for the reported quarter was $1.45 billion, which is 2.16% lower than $1.48 billion in the same period last year. Tyson Foods' operating income declined 5.60% to $927 million in Q1 FY18 from $982 million in Q1 FY17.
For the quarter ending December 30, 2017, net income attributable to Tyson Foods was $1.63 billion, which is approximately 2.75 times the income of $593 million in Q1 FY17. The Company's diluted earnings per share (DEPS) attributable to Tyson Foods was $4.40 in the quarter under review compared to $1.59 in the year ago corresponding quarter, reflecting an increase of 176.73%. The reported earnings included charges related to restructuring, and impairment charges associated with the divestiture of non-protein businesses (net of gain). It also included tax benefit from re-measurement of net deferred tax liabilities at lower
enacted tax rates due to the Federal Tax Cuts and Jobs Act. Tyson Foods' adjusted DEPS, excluding these non-recurring and non-core items, was $1.81 in Q1 FY18, up 13.84% from $1.59 in Q1 FY17. This was higher than analysts' consensus estimates of $1.51 per share.
Tyson Foods' Segment Details
During Q1 FY18, the Beef segment reported revenues were $3.89 billion, up 10.15% y-o-y, mainly due to improved availability of cattle supply, stronger demand for beef products and increased exports. This segment had an operating income of $256 million in Q1 FY18, a decrease of 14.38% from $299 million in Q1 FY17. Operating margin was 6.6% in the reported quarter compared to 8.5% in the year ago same quarter.
The Pork segment reported revenues of $1.28 billion in Q1 FY18, an increment of 2.48% from $1.25 billion in Q1 FY17. This segment's operating income in the quarter under review was $151 million, a decline of 38.87% from $247 million in the previous year's comparable quarter. The pork segment's operating margin declined 7.96% to 11.77% in Q1 FY18 from 19.73% in Q1 FY17.
For Q1 FY18, the Chicken segment generated revenues of $3 billion, an increment of 10.75% from $2.71 billion in Q1 FY17 due to strong demand for its chicken products along with the incremental volume from the AdvancePierre acquisition. This segment generated an operating income of $272 million in Q1 FY18, an increase of 3.42% from $263 million in Q1 FY17. This segment's operating margin fell 0.64% to 9.08% in the reported quarter from 9.72% in the year ago same quarter.
The Prepared Foods segment reported revenues of $2.29 billion in Q1 FY18, an increment of 20.95% from $1.9 billion in Q1 FY17, primarily from incremental volumes from the AdvancePierre acquisition. This segment's operating income advanced 37.37% to $261 million in Q1 FY18 from $190 million in Q1 FY17. The prepared food segment's operating margin improved 1.36% to 11.39% in the quarter under review from 10.03% in the previous year's corresponding quarter.
Tyson Foods had cash and cash equivalents of $293 million as on December 30, 2017, a decrease of 7.86% from $318 million as on September 30, 2017. The Company had a long-term debt of $8.88 billion as on December 30, 2017, a decrease of 4.54% from $9.3 billion as on September 30, 2017.
For the quarter ending December 30, 2017, Tyson Foods' net cash flow from operating activities was $1.13 billion, a small decrease of 0.71% y-o-y. The Company paid $108 million in dividends in the quarter ending December 30, 2017, compared to $79 million in the same period last year. The Company spent $164 million in Class-A common stock repurchases in the reported quarter.
For full-year 2018, Tyson Foods expects its sales to increase by 6%-7% to $41 billion, due to incremental AdvancePierre sales of $1.1 billion, an increase in sales volume in its legacy businesses and an improvement in mix mainly in the Chicken segment. The Company estimates an adjusted EPS of $6.55-$6.70 for fiscal 2018, including the benefit of lower enacted tax rates but excluding the one-time cash bonuses. This signifies an increase of 23%-26% from fiscal 2017 adjusted EPS.
Stock Performance Snapshot
March 08, 2018 - At Thursday's closing bell, Tyson Foods' stock was marginally up 0.59%, ending the trading session at $74.97.
Volume traded for the day: 1.55 million shares.
Stock performance in the last month – up 1.05%; previous six-month period – up 15.43%; and past twelve-month period – up 21.08%
After yesterday's close, Tyson Foods' market cap was at $27.46 billion.
Price to Earnings (P/E) ratio was at 15.17.
The stock has a dividend yield of 1.60%.
The stock is part of the Consumer Goods sector, categorized under the Meat Products industry. This sector was up 0.9% at the end of the session.
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