=Tyson Foods (TSN) reported earnings on Thur 8 Feb 2018 (b/o)

Tyson Foods beats by $0.32, beats on revs; guides FY18 EPS above consensus

• Reports Q1 (Dec) earnings of $1.81 per share, excluding non-recurring items, $0.32 better thanthe Capital IQ Consensus of $1.49; revenues rose 11.4% year/year to $10.23 bln vs the $9.88 bln Capital IQ Consensus.
• Co issues raised guidance for FY18, sees EPS of $6.55-6.70 from $5.70, excluding non-recurring items, vs. $5.90 Capital IQ Consensus Estimate.
• "Through a combination of synergies from the integration of AdvancePierre and additional elimination of non-value added costs, the program is estimated to result in net savings of $200 million in fiscal 2018, $400 million in fiscal 2019 including new savings of $200 million, and $600 million in fiscal 2020 including additional savings of $200 million. The majority of these savings, which are focused on supply chain, procurement, and overhead improvements, are expected to be realized in the Prepared Foods and Chicken segments."