Positive Earnings Report Boosts Tyson Foods Stock

Quarterly earnings have been posted by Tyson Foods (TSN), and they have come out better than expected.

Timothy St. John•Monday, August 5, 2024•2 min read

Tyson Foods (TSN) released its third quarterly fiscal earnings report and came out ahead of the estimates from the Zacks Investment Research firm.

Tyson Foods just posted their quarterly earnings.

The company, famous for its frozen chicken offerings, posted quarterly earnings of $0.87 per share, which is dramatically up from last year’s $0.15 per share. It also beat out the estimate of $0.61 per share, and the stock price soared to gain 3.62%.

The company has managed to surpass estimates for its earnings for each quarter over the last year, beating estimates this quarter by 43%. The company’s revenue for the quarter added up to $13.35 billion, which managed to beat the anticipated revenue by 1.42%. Compared to last year at this time, the company is up, beating those revenue numbers by 1.5%.

Will the Current Stock Price Hold?

Should investors expect some pullback on the stock price after today’s unexpected jump? That mostly depends on what the company’s management has to say about their earnings report and what they announce for future plans. Tyson’s share price has jumped nearly 14% this year so far, and that beats out the S&P 500’s gain for the year.

The expectation for Tyson Foods after four better-than-expected quarters of earnings for the company is that this trend will continue. However, the stock market is currently very low, suffering from the negative effects of a poor jobs report. With unemployment higher than analysts anticipated, it is expected that the stock market will continue to suffer for the short term.

Tyson stock has proven to beat out analyst estimates before, though, so this one is hard to predict. We would not count this stock as one to overlook for now. Investors should consider Tyson Foods because of its strong performance in spite of a down market. The stock is not likely to outperform the market by a large margin, but it could be a standout investment during the current downturn.

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ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.