February 8, 2018 / 12:40 PM / 2 months ago

BRIEF-Tyson Foods Posts Q1 Adjusted Earnings Per Share $1.81

Feb 8 (Reuters) - Tyson Foods Inc:

* TYSON FOODS DELIVERS RECORD QUARTER DRIVEN BY RECORD PREPARED FOODS RESULTS AND 11% TOTAL COMPANY SALES GROWTH

* Q1 GAAP EARNINGS PER SHARE $4.40

* SEES FY 2018 ADJUSTED EARNINGS PER SHARE $6.55 TO $6.70 EXCLUDING ITEMS

* QTRLY ‍SALES $10,229 MILLION VERSUS $9,182​ MILLION

* ‍LOWER ENACTED TAX RATES POSITIVELY IMPACTED Q1 ADJUSTED EPS BY $0.21​

* IN QUARTER, REALIZED $37 MILLION OF FINANCIAL FITNESS PROGRAM COST SAVINGS TAX REFORM IMPACT

* ‍EXPECT A FISCAL 2018 BENEFIT OF APPROXIMATELY $0.85 ON AN ADJUSTED BASIS ON ENACTED TAX REFORM​

* ‍INCREMENTAL TAX REFORM CASH FLOW IN FISCAL 2018 EXPECTED TO EXCEED $300 MILLION​

* ‍MORE THAN $100 MILLION IN ONE-TIME CASH BONUSES TO BE PAID TO ELIGIBLE FRONTLINE EMPLOYEES IN Q2 OF FISCAL 2018​

* ‍BELIEVE BEEF SEGMENT’S ADJUSTED OPERATING MARGIN IN FISCAL 2018 SHOULD APPROACH 6%​

* ‍FOR FISCAL 2018, PORK SEGMENT’S ADJUSTED OPERATING MARGIN SHOULD BE AROUND 9%​

* ‍WILL CONSIDER ADDITIONAL SHARE REPURCHASES WHEN NET DEBT TO EBITDA RATIO IS AROUND 2X​

* TYSON FOODS - ‍FOR FISCAL 2018, BELIEVE CHICKEN SEGMENT SALES WILL GROW WITH MORE THAN 4% VOLUME GROWTH​

* ‍EXPECT CAPITAL EXPENDITURES TO APPROXIMATE $1.4 TO $1.5 BILLION FOR FISCAL 2018​

* SEES ‍NET DEBT TO EBITDA RATIO OF AROUND 2X IN Q3 OF FISCAL 2018​

* FOR FISCAL 2018, BELIEVE CHICKEN SEGMENT SALES WILL GROW WITH MORE THAN 4% VOLUME GROWTH

* ‍”CURRENTLY DO NOT PLAN TO REPURCHASE SHARES OTHER THAN TO OFFSET DILUTION FROM OUR EQUITY COMPENSATION PROGRAMS”​

* ‍FOR FISCAL 2018, BELIEVE CHICKEN SEGMENT ADJUSTED OPERATING MARGINS SHOULD IMPROVE TO AROUND 11%​

* EXPECT NET INTEREST EXPENSE TO APPROXIMATE $335 MILLION FOR FISCAL 2018

* ‍EXPECT FISCAL 2018 SALES TO GROW 6-7% TO APPROXIMATELY $41 BILLION​

* FY2018 REVENUE VIEW $40.62 BILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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