Tyson Foods increases FY EPS guidance 'primarily due to much better than expected earnings in the Beef segment'
- FY 17 Adj. EPS guidance, which ends Saturday, has been increased to an adjusted $5.20-5.30 per share, up from $4.95-5.05, primarily due to much better than expected earnings in the Beef segment.
- Current Cap IQ Consensus estimates FY 17 adj. EPS of $5.06
- The company plans to reduce headcount by ~450 positions across several areas and job levels.
- In its fiscal fourth quarter earnings report, Tyson Foods plans to report restructuring and other charges of approximately $140 - $150 million, composed of an approximately $70 million impairment for costs related to in-process software implementations, $45 - $50 million in employee termination costs and $25 - $30 million in contract termination costs.
- Guidance for FY 18 adj. EPS of $5.70-5.85vs $5.33 Cap IQ Consensus
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