Tyson Foods Down 8.17% To $80.34 After Earnings Miss

Tyson Foods, Inc. (TSN) reported less than expected earnings this morning for Q3 2022.

Tyson Foods's earnings came in at an EPS of $1.94 per share, 2% lower than estimates for an EPS of $1.97 per share. The firm's earnings are down 28% since reporting $2.7 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $13.5 billion. That is an increase of 8.15% in revenues from the year-ago report and is 1.93% higher than consensus estimates set at $13.2 billion.

The stock is down 8.17% to $80.34 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Tyson Foods a Bullish Sentiment Rank from InvestorsObserver.

Tyson Foods has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 80, putting Tyson Foods in the top 25% of stocks. The firm set a 52-week high on February 8, 2022 at $100.72 and set a 52-week low on August 9, 2021 at $74.

Tyson Foods is the largest U.S. producer of processed chicken and beef. It's also a large producer of processed pork and protein-based products under the brands Jimmy Dean, Hillshire Farm, Ball Park, Sara Lee, Aidells, State Fair, and Raised & Rooted, to name a few. Tyson sells 81% of its products through various U.S. channels, including retailers (47% in fiscal 2021), food service (32%), and other packaged food and industrial companies (10%). In addition, 11% of the company's revenue comes from exports to Canada, Mexico, Brazil, Europe, China, and Japan.