** charts after earnings **
Tyson Foods misses by $0.05, beats on revs; guides FY16 above estimates :
- Reports Q4 (Sep) earnings of $0.83 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of $0.88; revenues rose 4.0% year/year to $10.51 bln vs the $10.23 bln Capital IQ Consensus.
- Co issues guidance for FY16, sees EPS of $3.50-3.65 vs. $3.53 Capital IQ Consensus; revs $41 bln vs. $40.38 bln Capital IQ Consensus Estimate.
- "In fiscal 2016, we expect domestic protein production (chicken, beef, pork and turkey) to increase ~3% from fiscal 2015 levels. Additionally, we expect disruptions related to export bans to continue in fiscal 2016. As we proceed with the integration of Hillshire Brands, we expect to realize synergies of more than $500 million in fiscal 2016 and more than $700 million in fiscal 2017 from the acquisition as well as our profit improvement plan for our legacy Prepared Foods business. The majority of these benefits will be realized in our Prepared Foods segment."
- "In fiscal 2016, we expect to increase share repurchases under our share repurchase program. As of October 3, 2015, 21.1 million shares remain authorized for repurchases. During the first quarter of fiscal 2016 as of Nov 20, 2015, we have repurchased ~4.4 million shares for $200 million, excluding shares repurchased to offset dilution from our equity compensation plans."
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