Dive Summary:
- Tyson Foods profit rose 91% during their fourth quarter of the 2012 fiscal year, a whopping $.55 a share.
- Most of the gain is from an increase in the price of Chicken, bring their profits from $97 million last year to $185 million this year.
- Analysts were taken aback by the news, quickly updating their forecasts for Tyson in the coming fiscal periods.
From the article:
SPRINGDALE, Ark. (AP) Tyson Foods net income jumped 91 percent in its fiscal fourth quarter, benefiting from higher chicken prices.The country's biggest meat company's earnings results easily topped Wall Street's forecast, and it provided a fiscal 2013 revenue outlook above analysts' estimates. Shares climbed in premarket trading.For the three months ended Sept. 29, Tyson Foods earned $185 million, or 51 cents per share. That's up from $97 million, or 26 cents per share, in the prior-year period.Taking out an impairment charge, earnings were 55 cents per share.Analysts, on average, fore...
