Tyson Foods Inc. (TSN) repeated its estimate of 2014 earnings of at least $2.78 per share.
Dennis Leatherby, the company’s executive vice president and CFO, reiterated the forecast at the Goldman Sachs Agribusiness Conference in New York, according to a statement.
Analysts surveyed by Capital IQ estimate the company will earn $2.89 a share.
The company acknowledged that the PED virus is hurting hog producers and will likely result in reduced hog supplies and higher prices. Executives reminded investors that Tyson Foods is a buyer of hogs, not a producer, and would have to pass along any increased input costs to the buyers of its pork products.
Tyson rose 1.8% to close at $40.47 a share. It reached an all-time high of $40.80 on March 5. Shares are dipping 0.5% in after hours.
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