Tyson Foods' stock slides 6% after company swings to a quarterly loss

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Meat producer to close four chicken facilities and booked goodwill impairment charges in its fiscal third quarter.

Tyson Foods Inc.’s stock fell 6% premarket Monday, after the chicken, beef and pork producer swung to a loss for its fiscal third quarter, weighed down by impairment charges.

The company TSN had a net loss of $417 million, or $1.18 a share, for the quarter to July 1, after earnings of $750 million, or $2.07 a share, in the year-ago period. Excluding one-time items, the company’s adjusted per-share earnings came to 15 cents, below the 26-cent FactSet consensus. The company booked a goodwill impairment charge of $210 million in its chicken segment and $238 million in international/other segment in the third quarter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines