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BRIEF-Tyson Foods reports Q1 net income per share attributable to Tyson of $1.59
February 6, 2017 / 1:00 PM / 8 months ago

BRIEF-Tyson Foods reports Q1 net income per share attributable to Tyson of $1.59

Feb 6 (Reuters) - Tyson Foods Inc :

* Steps up fiscal 2017 EPS guidance to $4.90-$5.05

* Q1 sales $9,182 million versus $9,152 million

* Qtrly net income per share attributable to Tyson $1.59

* For fiscal 2017, pork segment’s operating margin should be around 12%

* For fiscal 2017, beef segment’s operating margin should be around 5%

* Sees capital expenditures to approximate $1.0 billion for fiscal 2017

* In fiscal 2017, USDA indicates domestic protein production (chicken, beef, pork and turkey) should increase approximately 2-3%

* As co continues with integration of Hillshire Brands, expect to realize synergies of around $675 million in fiscal 2017 from acquisition

* Profit improvement plan for Legacy Prepared Foods business with some incremental synergies expected to be realized in fiscal 2018

* Expect earnings cadence for remainder of fiscal year to follow “more normal patterns, including seasonality typical of our Q2”

* Q1 earnings per share view $1.26, revenue view $9.05 billion -- Thomson Reuters I/B/E/S

* FY2017 earnings per share view $4.83 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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