Shares of Tyson Foods (NYSE: TSN) fell in pre-market trading at the time of publishing on Monday after the processor and marketer of chicken, beef, and pork products reported disappointing fiscal second-quarter earnings. The company swung to a loss in Q2 with an adjusted loss of $0.04 per share versus $2.29 in the same period last year while analysts were expecting Tyson to report earnings of $0.79 per share.
The company posted second-quarter revenues of $13.1 billion, flat year-over-year and below consensus estimates of $13.62 billion.
Looking forward, in FY23, Tyson expects to post revenues between $53 billion and $54 billion while the adjusted operating margin is projected to be in the range of 8% to 10% “driven by volume growth, productivity and disciplined revenue management.”
Analysts remain sidelined about TSN stock with a Hold consensus rating based on one Buy, six Holds, and two Sells.
