Tyson Foods Reiterates 2014 EPS Estimate of $2.78 at Goldman Sachs Conference, May Have to Pass Along Virus-Related Prices


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.

Suggested Reading: Most Expensive Cars Ever