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Tyson Foods Slashes Profit Projection Due to Tariffs

Shares of Tyson fell 7% to a 52-week low Monday

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Shares of Tyson fell 7% to a 52-week low Monday after the food company cut its full-year guidance on trade worries related to the Trump administration's imposition of tariffs and a turbulent commodities market, reports CNBC.

The international food company now expects adjusted earnings for fiscal year 2018 at approximately $5.70 to $6.00, down from a range of $6.55 to $6.70.

"The combination of changing global trade policies here and abroad, and the uncertainty of any resolution, have created a challenging market environment of increased volatility, lower prices and oversupply of protein," says Tom Hayes, Tyson Foods president and chief executive officer. "We will continue to watch these conditions carefully."

Read the full report here.

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