Tyson Foods shares fall 7% as production disruptions take a toll on profits
Tyson Foods reported fiscal second-quarter adjusted earnings of 77 cents per share on revenue of $10.89 billion.Tyson also said that it expects to face continued slowdowns and idling related to the coronavirus pandemic.
Wall Street anticipated earnings per share of $1.04 on revenue of $10.96 billion, based on a survey of analysts by Refinitiv. However, it's difficult to compare reported earnings to analyst estimates for Tyson's quarter, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.
"Operationally, we have and expect to continue to face slowdowns and temporary idling of production facilities from team member shortages or choices we make to ensure operational safety," the company said.
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