Tyson Beats Sales Estimates As It Pushes To Integrate Hillshire Brands

By Ciara LinnaneMarketWatch Pulse

Tyson Foods Inc. said Monday it had net income of $258 million, or 63 cents a share, in its fiscal fourth quarter, up from $137 million, or 35 cents a share, in the year-earlier period. Adjusted per-share earnings came to 83 cents, below the FactSet consensus of 87 cents. Sales climbed to $10.506 billion from $10.105 billion, ahead of the FactSet consensus of $10.141 billion. "Our business model is working," Chief Executive Donnie Smith said in a statement, noting that the company was able to produce record sales and earnings even as it worked to merge Hillshire Brands into its operations. The company is now expecting fiscal 2016 adjusted EPS of $3.50 to $3.65, compared with a FactSet consensus of $3.53. Shares fell 1.5% in premarket trade, but are up about 9% in the year so far, outperforming the S&P 500, which is up 1.5%.

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