Tyson Foods, Inc (NYSE:TSN)’s Q2 results has climbed a new high by beating the estimation


Dallas, Texas 08/06/2013 (Financialstrend) – On Monday Tyson Foods, Inc (NYSE:TSN) a Springdale, AZ based company announced its quarterly results by which it climbed a new high by beating the estimation, reported a jump in profit and delivered strong Earnings per share (EPS). It was reported to have generated total revenue of $8.73 billion which rose from $8.26 billion in the same period last year, where the expectation by analysts was only $8.65 billion. Earnings had a growth to $249 million, or 68 cents per share from $76 million, or 21 cents per share in the second quarter of 2012, the beef sales of the company grew by 3.8% while chicken sales grew by 7%. As the financial result of second quarter were positive Tyson Foods expects to have a sales of $34.5 billion in FY2013 and sales of $36 billion in FY2014, due to the positive results shares of the company saw a high yesterday.

Tyson Foods, Inc CEO Donnie Smith said “our company delivered greater results in the second quarter of the fiscal year as it was expected by the company, we delivered strong Earnings per share (EPS) of 69 cents per share while investing in our new businesses, processes and people and continuing to buy back stock. The company Beef segment returned to produce solid returns and Chicken segment accomplished record in operating income”.

There had been a gain of 4.14% in the shares of Tyson Foods, Inc (NYSE:TSN) which closed at $29.69 per share on Monday. The stock had presented intraday fluctuations on the range of $29.27 to $29.85 per share, after opening at $29.53 for the day. The company had recorded 52 week low at $14.06 and 52 week high at $29.85 per share. There are 354 million shares outstanding with a market cap of $10.54 billion and an institutional ownership of 78% of the total capital. The trading volume on Monday was 13.39 million shares and the average volume is at 2.87 million shares per day.