[ad_1]
A Tyson Fresh Meats plant employee leaves the plant on Thursday, April 23, 2020, in Logansport, Indiana.
Darron Cummings | AP
Tyson Foods on Monday reported that its fiscal second-quarter net income fell 15% from a year ago, as production disruptions weighed on its results.
The company also said that it has secured a $1.5 billion term loan facility.
Shares of the Jimmy Dean owner fell 7% in premarket trading.
Here’s what the company reported for the quarter ended March 28:
- Earnings per share: 77 cents, adjusted
- Revenue: $10.89 billion
Tyson reported fiscal second-quarter net income of $364 million, or $1 per share, down from $426 million, or $1.17 per share a year earlier.
Excluding items, the meat producer earned 77 cents per share.
Net sales rose 4.3% to $10.89 billion.
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.
