Outlook Intact After Tyson Reports Earnings Consistent With Reduced Guidance; Shares Attractive
In the wake of third-quarter results that were consistent with its fiscal 2018 guidance reduction on July 30, we do not expect to materially alter our $67 fair value estimate for no-moat Tyson. We still expect short-term challenges in the firm's chicken and pork units to yield to our long-term targets for the firm, calling for low-single-digit top-line growth against an 8% adjusted operating margin (versus 9% in 2017), on average, over the next decade.Year to date, Tyson reported 7% sales grow...
Tyson Foods is a food company. The company's operations consist of breeding stock, contract farmers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Through its wholly-owned subsidiary, Cobb-Vantress, Inc., the company is engaged as poultry breeding stock supplier. The company also processes live fed cattle and hogs and fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, case-ready beef and pork and fully-cooked meats. The company produces a range of fresh, frozen and refrigerated food products. The company operates in Beef, Pork, Chicken and Prepared Foods segments.
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