Tyson Foods Inc.'s fiscal fourth-quarter adjusted EPS and reported net income beat Street expectations as the company forecast lower 2019 adjusted EPS.
Adjusted net income per share attributable to Tyson of $1.58 for the three months ended Sept. 29 beat the S&P Global Market Intelligence mean consensus estimate for normalized EPS of $1.38.
Net income attributable to Tyson rose 36% to $537 million, surpassing the mean consensus estimate for GAAP net income of $509.8 million with four analysts reporting.
Sales for the quarter declined 1.4% to $10 billion, pulled lower by revenue from pork and prepared foods.
For its 2019 fiscal year, Tyson expects adjusted EPS guidance of between $5.75 and $6.10, below its result for its 2018 fiscal year.
Adjusted EPS for the 12 months ended Sept. 29 was $6.16, above the S&P Global Market Intelligence mean consensus estimate for normalized EPS of $5.94. Sales for the year rose 4.7% to $40.05 billion.
Shares of Tyson fell 1.7% to $60.54 in premarket trading Nov. 13. The meat processing company reported results before U.S. markets opened.
