Tyson Betters 4Q Forecast

Tyson Foods Inc. released fourth quarter earnings forecasts on Sept. 22 that were well-above Wall-Street’s expectations. The beef sector of diversified protein provider deserves much of the credit.r

The company announced that it expects the earnings to be in the range of 35 cents to 40 cents per share. Analysts on average were expecting earnings of 25 cents a share, according to Reuters Research, a unit of Reuters Plc. r

“Our earnings for the quarter will substantially exceed the estimates in the market today,” Tyson Foods Chairman and CEO John Tyson said in a press release. “Our beef segment is having an outstanding quarter and is the principal reason for the better-than-expected results. The performance is being driven by strong domestic and international demand for U.S. beef against a reduced supply environment resulting primarily from the ban on Canadian beef imports for most of the quarter.” r

Tyson said improved market conditions for poultry, both domestically and internationally, continue to benefit the value-added segment. The pork segment has also grown well in an adverse environment, he said.r

Tyson also said that it expects annual earnings per share for the fiscal 2004 to range from 90 cents to $1.20 per share.